• Botanix Pharmaceuticals relists on ASX under code “BOT” after reverse takeover of Bone Medical
• Company develops prescription products for serious skin diseases including acne, psoriasis and atopic dermatitis
• Company raises $3.5M in heavily oversubscribed offering
Perth, Australia; 15th July 2016: Medical dermatology company Botanix Pharmaceuticals (“Botanix” or “the Company”) will begin trading on the Australian Securities Exchange (ASX) today under the ticker code “BOT”.
Botanix’s ASX debut follows its successful and oversubscribed capital raising of $3.5M and its acquisition by Bone Medical Limited, which was approved by Bone Medical investors in June.
Botanix is a medical dermatology company using a novel drug active and proven drug delivery technology to develop prescription treatments for serious skin diseases, including acne, psoriasis and atopic dermatitis. Medical dermatology is a particularly attractive segment of the pharmaceutical industry with very few products in development and is characterised by many drugs that have significant side effects. In the initial acne target indication – no new products have been approved in a decade despite more than US$3 billion in annual sales for these prescription products.
The Company has also licensed a novel drug delivery technology known as Permetrex™ which is designed to deliver pharmaceuticals into the skin more effectively than other approaches. Delivering drugs through the skin remains a significant challenge to overcome in creating new products, and this technology will be leveraged for the Botanix pipeline products as well as other potential product opportunities within the dermatology area.
Executive Director Matthew Callahan commented, “Given that acne is the most common skin disease in the world and that our lead product under development is a topically applied gel intended to treat serious acne, our first product BTX1503 targeting moderate to severe acne presents a compelling investment opportunity in a space where there has been little innovation for a decade.”
“I would also like to thank our investors in the lead up to today for their confidence in the Botanix program and management’s plan to accelerate BTX1503 into human trials at the end of calendar Q1 2017.”
About Botanix
Botanix Pharma is dedicated to developing next generation therapeutics for the treatment of serious skin diseases. Our mission is to improve the lives of patients battling acne, psoriasis and atopic dermatitis, by providing new treatment options for conditions that currently are inadequately addressed or are treated with therapeutics that are burdened with side effects profiles. Botanix is harnessing the untapped potential of a synthetic active pharmaceutical ingredient known as cannabidiol, which is currently being studied for the treatment of epilepsy, pain, arthritis and schizophrenia and has a well-established safety profile. Botanix is preparing for the first human trials utilizing synthetic cannabidiol utlising a proprietary drug delivery system (Permetrex™) for direct skin delivery of the therapy.
