Bird & Bird has advised iX Biopharma Ltd., a Catalist-listed specialty pharmaceutical and nutraceutical company, on its share placement on the Singapore Exchange.
iX Biopharma specialises in advanced drug delivery systems through its proprietary WaferiX™ and WaferlogiX™ platforms and was recently awarded a US$40.95 million U.S. Government contract for the development of Wafermine™, a fast-dissolving sublingual ketamine wafer.
The placement, initially targeting minimum gross proceeds of S$6.0 million, was upsized following strong investor demand and raised approximately S$15.0 million. Net proceeds will be used to support interim financing for the U.S. Government contract and for general working capital.
The Bird & Bird team was led by Singapore Corporate partner Jolie Giouw, with support from associate Karen Ho.
