Pre Money Equity Valuation
$9,100,000
Min Raise
$6,000,000
Max Raise
$7,000,000
Estimated Close
2018-12-04
Issue Type
IPO
Lead Manager
Alto Capital
Type of Securities
Shares
Date First Lodged
06/11/2018
Offer Costs $
$654,000
Market Cap Max
$16,100,000
Key Executives
Jason Watson (NEC), Ian Dixon (MD), David Parker (NED)
Company Address
Level 1, 888 Doncaster Road, Doncaster East, Victoria 3109
Stockbroker's Snapshot
Regenerative medicine biopharmaceutical company
Exchange
ASX
1st Day VWAP
0.43
Chairman's Letter

DEAR INVESTOR
On behalf of the Directors of Exopharm Limited, I am pleased to present
to you the opportunity to become a Shareholder.
The medical problems associated with aging are challenging to
the person affected, their relatives and loved ones and our healthsystems. As life span is being extended, many people are experiencing
decades of ill-health due to diseases/conditions such as arthritis,
age-related macular degeneration, osteoporosis, diabetes, sarcopenia,
neurodegeneration and more.
And yet we know that some people – the centenarians – can be fit and
active into their late eighties or nineties and then have a relatively short
period of ill-health before end of life.
Regenerative medicine seeks to address this challenge and extend the
duration of our wellness and capacity.
Whilst there have been numerous companies developing stem cell
products for regenerative medicine, their progress to date has not
delivered many FDA-approved new stem cell therapies for age-related
conditions outside of cancer.
More recently, numerous researchers have demonstrated in small
animal studies the advantages of experimental treatments using
exosomes – natural nanoparticles derived from adult stem cells or
other sources. But larger studies in humans have been mainly held
back by a lack of suitable purification technology.
It is against this backdrop of urgent medical need and lack of adequate
progress that Exopharm has been created. Our vision is to harness
the potential potency of exosomes as a cell free therapeutic product
to initially treat conditions such as wounds, osteoarthritis and dry agerelated macular degeneration.
Exopharm is the owner of a patent-applied-for technology that
potentially solves the purification problem – this technology is called
LEAP (Ligand-based Exosome Affinity Purification). With LEAP,
Exopharm seeks to manufacture exosomes to enable studies in
humans for age-related conditions.
The Board believes that the following combination of factors gives the
Company a firm foundation:
• the LEAP Technology is expected to give Exopharm a
manufacturing competitive advantage in this emerging field;
• exosome products made using the LEAP Technology have the
potential to provide a new class of regenerative medicine for
patients and their doctors;
• the Development Program contains a series of key milestones that
the Company believes are achievable over the next 24 months;
and
• the business plan is proposed to be implemented by a team with a
strong track record in biopharmaceuticals and bio-manufacturing.
This Prospectus contains detailed information about the Exopharm
business, the proposed Development Program and the risks associated
with Exopharm progressing an experimental treatment for application in
regenerative medicine. The LEAP Technology, the core of Exopharm’s
present intellectual property, is at an early-stage of development, and,
whilst patents have been applied for, no patents have yet been granted.
Accordingly, an investment in Exopharm involves a number of risks,
including risks associated with the underlying LEAP Technology,
product risk due to the early-stage of the Development Program, the
proposed first in human use studies (safety and efficacy), access to
stem cells, blood and blood platelets, registration of intellectual property
and potential third party infringement, key management, changes
to legislation and government regulations and the Exosome market
being in the early-stages of development patents. The key risks are
summarised in section 1 and described in further detail in section 7.
Under this Prospectus, the Company is seeking to raise approximately
$6,000,000 (before costs) through the issue of 30,000,000 New
Shares under the Offer, with capacity to accept oversubscriptions of up
to a further $1,000,000 (before costs) through the issue of an additional
5,000,000 New Shares.
Potential investors should consider that an investment in the Company
is highly speculative and should consult their professional advisers
before deciding whether to apply for New Shares pursuant to this
Prospectus. I encourage you to read this document carefully and in its
entirety before making your investment decision.
If the Offer closes successfully, and the Company is admitted to the
official list of ASX, the Company will have a market capitalisation (at the
Offer Price) of approximately $15.1 million, (based upon the minimum
subscription).
Yours faithfully,
Jason Watson
Chairman
Exopharm Limited