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The Fund will subscribe for shares in Implicit Bioscience Ltd (Implicit), a Brisbane-based clinical-stage biotech company, as part of the company’s $5 million capital raise to fund operations through to the end of CY 2025 and to support key business development outcomes.
The company is focused on completing the development of IC14 (atibuclimab), a groundbreaking monoclonal antibody targeting CD14, designed to calm the body's overactive immune system. This immuno-therapeutic drug addresses serious diseases caused by harmful inflammation, including acute heart failure, all-cause acute respiratory distress syndrome (ARDS), amyotrophic lateral sclerosis (ALS, also known as Lou Gehrig’s disease or Motor Neurone Disease), and cardio-immunology conditions.
Implicit has successfully transitioned from a preclinical to clinical phase company with studies of IC14 in patients with heart failure and heart attack underway. These studies strengthen the commercial partnering profile and increase its asset value for pharma companies, supporting the objective of a near-term shareholder liquidity event. Ongoing success in these clinical cardiovascular trials has been well ahead of expectations and has resulted in the company and its investment banking advisor having some 24 major global pharmaceutical companies tracking its progress with a number of top ten companies in serious due diligence. Success in these negotiations would see the availability of considerable funding to complete the development required for a full company acquisition at what is anticipated to be a significant premium to the current valuation of this capital raise.
Implicit operates under a virtual biotech model, outsourcing all laboratory work to minimise overhead and concentrate resources on clinical and commercial milestones. IC14 is positioned as a first-in-class treatment with significant competitive advantages, including a proven safety profile, companion diagnostic tools, and a precision immunotherapy approach. There are also very realistic possibilities for application of the IC14 treatment in the ocular, neurodegeneration, and other autoimmune conditions crying out for solutions as they all share the common receptor CD14.
The company holds several key patents, with others pending, ensuring market exclusivity in major jurisdictions. FDA approval for IC14 as an originator biologic is also very well advanced. This adds additional protection of clinical data.
The Fund offers units in an unregistered managed investment scheme for qualified investors at tiered discounts based on investment size, with proceeds used to subscribe for shares in Implicit alongside existing and new investors in the same raise. Upon execution of a Non-Disclosure Agreement, the Supplementary Investment Memorandum and other information will be provided to potential investors.
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