The company is focused on developing non-antibiotic medicines for the treatment and prevention of diarrhea
Anatara Lifesciences was offered 14 million shares at $0.50 a share, and has successfully raised $7 million through an oversubscribed Initial Public Offering (IPO) that has now been closed. The company is focused on developing non-antibiotic medicines for the treatment and prevention of diarrhea in animals and humans.
"The response by investors to the offering has been fantastic. We look forward to delivering on the enthusiasm and faith investors have shown in supporting the company and its planned future. The fact that the lead compound is derived from pineapple stems, a natural and safe resource, and addresses a significant area of unmet medical need, seems to have resonated with investors," said company's chairman and co-founder Dr Mel Bridges.
Anatara's lead product, Detach is a non-antibiotic therapy to treat and prevent diarrhea. The company is focused on commercialising Detach initially for use in pigs, ahead of expanding its use to other livestock, and then developing it for use in humans.
The IPO was led by Wilson HTM with co-manager Peloton Capital and legal advisers McCullough Robertson.