AdAlta Limited

AdAlta Limited (ASX:1AD)

Offer Price

A$0.0030

per share

Offer Size

A$1,300,000

Shortfall Placement

AdAlta Limited (ASX:1AD)

1AD

Lead Manager

Offer Price

A$0.0030

per share

Offer Size

A$1,300,000

Shortfall Placement

AdAlta Limited

Offer Details

Issue Price (Per Share)

A$0.0030

Discount

-50.00%

Offer Size

A$1,300,000

Shares Available

433,333,333

Renounceable offer of two (2) New Shares for every three (3) Shares held by Eligible Shareholders at the Record Date:

  • Issue price 0.3 cents ($0.003) per New Share
  • 51% discount to 15 day VWAP

One (1) New Option for every two (2) New Shares:

  • Exercise price 1.0 cent ($0.01)
  • Three year term (expiry 3 June 2028)

New Shares and New Options will be issued by AdAlta Ltd ACN 120 332 925 under and in accordance with a prospectus prepared in accordance with s713 of the Corporations Act that was lodged with ASIC and ASX on 5 May 2025 (Prospectus). The offer of the New Shares and New Options (Offer) will be made directly to Eligible Shareholders and will be accompanied by a copy of the Prospectus. A person should consider the Prospectus in deciding whether to acquire the securities and to acquire New Shares and New Options under the Offer. A person who decides to acquire the New Shares and New Options under the Offer will need to complete the application form that will accompany the Prospectus.

The shortfall component is now being offered to sophisticated and professional investors under s708 of the Corporations Act 2001 (Cth).

Company Overview

AdAlta Limited (ASX:1AD) is a clinical stage biotechnology company using its i-body platform to discover and develop next generation protein therapeutics addressing drug targets that are challenging for other technologies.

What is an i-body? An i-body is a unique human protein that combines the advantages of small molecules (for stability) and antibodies (with a high affinity and specificity for treating certain illnesses) in one powerful treatment. The i-body has a unique long loop that can bind to a diverse range of targets meaning that it has wide applicability across many diseases.

AdAlta’s internal pipeline is focused on GPCRs implicated in fibrotic and inflammatory disease and cancer and its external pipeline is leveraging partner expertise to pursue a wider range of targets and indications.

The Company’s first-in-class lead asset, AD-214, is being developed for the treatment of idiopathic pulmonary fibrosis (IPF) and other fibrotic diseases, for which current therapies are sub-optimal. There is a high-unmet medical need for effective treatments. AdAlta commenced a human Phase 1 clinical trial for AD-214 in July 2020.

AdAlta is continuing further discovery and development of the i-body platform, directed towards other disease targets for in-house development or partnering.

Use of Funds

To raise $1.29 million if fully subscribed to be used:

Use of Funds

Application

1.

Advance a first CAR-T product in-licensing transaction for AdCella subsidiary

2.

Advance business development transactions for AD-214 and WD-34

3.

Evaluate other strategic options for the Company and, to the extent any funds remain, fund general working capital

Indicative Timetable

The below dates are indicative only and are subject to change without notice. The Company and the Lead Manager reserve the right to extend the Closing Date of the offer or close the capital raise early without notice. All times are in AEST (Sydney, Australia) unless stated otherwise.

Firm bids by

4pm, 28 May 2025

Allocations

29 May 2025

Funds Due

2 June 2025

Allotment

4 June 2025

Board & Management

Paul MacLeman

Paul MacLeman

Chairman

Paul has over 25 years’ experience across all phases of the life sciences sector. With a career-spanning veterinary practice, pharmaceutical development and manufacturing, biotechnology, diagnostics and finance, Paul has expertise in capital management, business development, technology commercialisation and sales & marketing globally. Paul has launched products using both in-house and outsourced sales staff in Australia and the US. He has founded life sciences start-ups in the biologics area and worked in investment banking focusing on the analysis and financing of technology companies. Paul has previously served as Chairman, Director or Managing Director/CEO of several VC funded, ASX, NASDAQ, CSE and TSX listed companies and has driven a number of IPOs. Paul Chaired the Industry Review Committee for the Pharmaceutical Manufacturing National Training Package for the AISC for approximately 10 years prior to the establishment of the new Jobs and Skills Councils and advises the new formed Manufacturing Industry Skills Alliance. He is also an expert advisor to PharmaVentures plc. (Oxford, UK) and serves on a number of other NFP and government advisory groups. He currently Chairs or is a Non-Executive Director of a number of public unlisted and private companies. Paul is the Executive Chairman of Island Pharmaceuticals Limited (ASX:ILA).

Tim Oldman

Tim Oldman

CEO & Managing Director

Tim has more than 20 years of life sciences business development, alliance management, portfolio and product development, and commercialisation experience in Europe, Asia and Australia, with a particular focus on biologics, cell and gene therapies and pharmaceutical products. Tim was appointed CEO and MD in October 2019. Immediately prior to this, he was Executive Leader of Tijan Ventures, an advisory business focussed on growing life sciences companies through strategic advisory and interim CEO, executive and non-executive leadership services, with a particular focus on biologics, cell and gene therapies and immunotherapy. Previous roles include CEO and Managing Director of Cell Therapies Pty Ltd, a leading contract manufacturer and distributor cellular therapies in Asia Pacific, President of Asia Pacific for Hospira, Inc., and a variety of senior management roles with Mayne Pharma Ltd prior to its acquisition by Hospira. Prior to this, Tim was an engagement manager with McKinsey & Company. Industry leadership roles include currently serving as a Director of BioMelbourne Network Inc and terms as chairman of the European Generic Medicines Association Biosimilars and Biotechnology Committee, a Director of the Alliance for Regenerative Medicine and a Director of the Generic Medicines Industry Association. He is a Non-executive Director at Acrux Ltd (ASX:ACR).

David Fuller

David Fuller

Non-Executive Director

David has 30 years experience in pre-clinical, clinical development, medical and regulatory affairs with a specialisation in the early phase development of biological molecules. David has an impressive record of developing and commercialising new products and establishing and nurturing businesses in complex international environments. He has led five product approvals in the United States (US) and European Union (EU) for orphan and major market products, together with multiple Regulatory Agency (US/EU) interactions including Investigational New Drug (IND) applications. David has designed and executed multiple Phase I – III studies in US, EU and Asia across multiple therapeutic areas. David is currently Senior Vice President, Clinical Development, Oncology Business Unit, Syneos Health where he has overall responsibility for the strategy and growth of the Oncology Business Unit in Asia Pacific. He is also a Non-Executive Director at EpiAxis Therapeutics Pty Ltd, a former Non-Executive Director of Linear Clinical Research Ltd – a Perth based clinical trials facility – and a former Chair of Dimerix Ltd (ASX:DXB). David holds Bachelor of Medicine/Bachelor of Surgery and Bachelor of Pharmacy degrees from University of Sydney.

Iain Ross

Iain Ross

Non-Executive Director

Iain is a seasoned executive and company director with over 35 years of experience in the life sciences and technology sectors. Throughout his career, he has successfully completed multiple financing transactions and brings over three decades of expertise in cross-border management as Chairman and CEO. This has provided him with substantial knowledge of international capital markets and structuring growth strategies. Iain has been instrumental in leading and participating in eight Initial Public Offerings (IPOs) and has direct experience in mergers and acquisitions across Europe, the US, and the Pacific Rim.

Currently, Iain serves as Chairman of NASDAQ-listed Silence Therapeutics (NASDAQ: SLN) and ReNeuron Group plc. He is also a Non-Executive Director at Tern plc, a technology investment firm listed on London’s Alternative Investment Market (AIM), and FivepHusion Limited, a private oncology company based in Sydney. His previous executive roles include leadership positions at global organisations such as Sandoz, Hoffman-La Roche, Reed Business Publishing, and Celltech Group.

He holds a Bachelor of Science and is a Fellow in Biochemistry from Royal Holloway, University of London. Additionally, he is a Chartered Director and Fellow of the Institute of Directors.

Michelle Burke

Michelle Burke

Non-Executive Director

Michelle brings over 30 years of experience in the healthcare and life sciences sectors, with expertise spanning cell therapies, strategy, and governance. Her extensive biopharmaceutical, biotechnology, and business strategy acumen has benefited the numerous healthcare institutions where she has served as a Non-Executive Director and Chair.

Currently, Michelle is a Non-Executive Director at Cell Therapies Pty Ltd, a globally active Australian company specialising in the commercial development and manufacturing of cell therapy, gene therapy, regenerative medicine, and cellular immunotherapy products. She also serves as a Non-Executive Director for the Olivia Newton-John Cancer Research Institute.

Michelle’s past roles include serving as Chair and Non-Executive Director of AusBiotech, Australia’s peak industry body for life sciences, and holding senior commercial and corporate affairs positions at global healthcare leaders Bristol-Myers Squibb and SmithKline Beecham (now GSK).

In addition to her directorships, Michelle is a member of the Pharmaceutical Benefits Advisory Committee (an independent expert body appointed by the Australian Government) and provides consulting services to companies, governments, and academic institutions, focusing on commercialisation, business planning, and healthcare policy.

She holds a Bachelor of Science (Honours) from Monash University and is a graduate of the Australian Institute of Company Directors (GAICD).

Disclaimer

This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of AdAlta Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.

Disclosure of Interest: Liquidity receives commission from dealing in securities and its introducers of business may directly share in this commission. Liquidity and its associates may hold shares in AdAlta Limited.

AdAlta Limited

Shortfall Placement

AdAlta Limited (ASX:1AD)

1AD

Offer Price

A$0.0030

per share

Offer Size

A$1,300,000

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