QBiotics announces plan to raise up to AU$75 million

16 March 2021

The Board of QBiotics Group Limited (QBiotics) announces its plan to raise up to AU$75 million from professional/sophisticated investors and shareholders.

Global investment firm TDM Growth Partners (TDM) today agreed to invest AU$50 million with the remaining amount to be raised from other professional/sophisticated investors and existing shareholders. TDM’s share placement will be completed at an issue price of AU$0.90 per Share.

The Placement is being completed at a pre-money valuation of $350m, which is 38% higher than when the prior capital raise was completed in December 2019.

QBiotics plans to give existing shareholders the opportunity to invest at the same issue price of AU$0.90 per Share. Further information about the capital raise will be announced in the coming weeks. Funding from this capital raise will enable QBiotics to accelerate our human drug development pipeline in both oncology and wound healing, support marketing of our veterinary pharmaceutical, STELFONTA^® and further strengthen the QBiotics team. Including strong institutional support sets the Company up for the next stage in our corporate evolution, and the funding will enable a step-change in the pace at which we can bring our programmes forward.