LTR Pharma Limited

LTR Pharma (ASX:LTP)

Offer Price

A$0.200

per share

Offer Size

A$7,000,000

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LTR Pharma Limited

IPO

LTR Pharma (ASX:LTP)

LTP

Lead Manager

Offer Price

A$0.200

per share

Offer Size

A$7,000,000

IPO

LTR Pharma

SPONTAN®

SPONTAN is a ‘First in Class’ Intra-Nasal drug (PDE5) delivery platform called SDS089-PK01 (SPONTAN) to treat patients with Erectile Dysfunction (ED).

SPONTAN is targeting to meet a range of specific unmet clinical and patient needs, allowing rapid onset of action and reduced side effects from lower dosage, compared to other similar products.

SPONTAN has successfully completed Phase 1 Human Proof of Concept in California and is undergoing an expedited regulatory pathway with the TGA and FDA, through a change of administration for an already approved drug Vardenafil.

Results from the Proof-of-Concept study indicated rapid onset time of 6 – 15 minutes compared to other generic brands, which could take up to a sluggish 60 minutes.

PDE5 Inhibition

Market Size

As risk factors such as obesity and diabetes become more prevalent, so does ED

  • Forecast to be US$6.0b market by 2028
  • ~322m men by 2025
  • 60.7% of males aged 45y/o+ in Australia

Source: Frost and Sullivan Report, The Erectile Dysfunction Medicines Market, September 2023

Investment Highlights

Expedited path to market

Repurposed drugs with novel delivery methods can reach the market in the US and Australia quickly

Promising proof of concept

Demonstrated 6x faster than oral administration of competitor PDE5 inhibitors

Blockbuster market with issues

Existing PDE5 inhibitors have a high discontinuation rate due poor efficacy and side effects

Blue chip partners

Drug development, device and manufacturing partnerships with APTAR and Mayne Health

Multiple upcoming value inflection points

Progress of both FDA and TGA applications

Board and Management

Lee Rodne

Lee Rodne

Executive Chairman

Lee holds over 25 years’ experience in the healthcare and technology sectors and has been in executive leadership roles in both Public and Private enterprises.

He previously worked in Fortescue Metals Group and led a healthcare technology spin out (Allied Medical) as its CEO and Managing Director that resulted in increasing its valuation from $800k to a peak of $250m (ASX:AHZ, AVR). He was also the Senior Executive of Sirius Minerals Plc that led to its lead acquisition project and reached a peak market capitalisation of over $1 billion on the London exchange.

Lee holds an MBA from the University of St Thomas, Minnesota and B.A. degree in Business Management from St John’s University.

Dr Julian Chick

Dr Julian Chick

Non-Executive Director

Julian is an experienced healthcare executive with over 20 years’ experience in senior management and board positions including in ASX listed companies Avexa (ASX:AVX) and Admedus (ASX: AHZ, AVR).

He has eight years’ investment banking experience and has also held a role as an analyst reviewing healthcare and biotechnology investment opportunities for private equity investors and venture capitalists.

Julian has a PhD in Physiology and is currently Chair of ASX listed digital health company Opyl (ASX:OPL).

Ms Maja McGuire

Ms Maja McGuire

Non-Executive Director

Maja is a consulting lawyer and board director with a 15-year track record of providing strategic, corporate and compliance advice to public listed companies. This includes working with listed companies as a non-executive chair, non-executive director, general counsel, company secretary and in private practice.

Prior to joining LTR Pharma, Maja was general counsel and company secretary of US based Alexium International Group Limited (ASX:AJC), a company that holds proprietary patent applications for novel technologies developed to provide thermal regulation and flame retardancy.

Maja currently holds roles in multiple ASX listed companies, including non-executive chair of TechGen Metals (ASX.TG1), non-executive director of Kuniko (ASX.KNI), non-executive director of Indiana Resources Liimited (ASX.IDA).

Indicative Timetable

Prospectus Lodged with ASIC

Wednesday, 1st November 2023

Exposure Period Opens

Wednesday, 1st November 2023

Exposure Period Closes

Thursday, 9th November 2023

Opening Date

Friday, 10th November 2023

Closing Date

Friday, 24th November 2023

Expected Date for Allocation of Shares

Friday, 1st December 2023

Holding Statements Sent to Shareholders

Monday, 4th December 2023

Expected Date for Quotation of the Company’s Securities on ASX

Friday, 8th December 2023

Prospectus

Important Information

The Prospectus 1 November 2023 is an important document that should be read in its entirety before deciding whether to participate in the Offer (as referred to below and detailed in the Prospectus). If after reading the Prospectus, you have questions about the Offer, you should contact your stockbroker, accountant or other professional adviser.

The Prospectus contains details of an offer by LTR Pharma (ACN 644 924 569) for an offer of approximately 35,000,000 Shares at an issue price of $0.20 per Share to raise approximately $7 million (with a minimum raising of $6 million) and other offers. No shares will be issued on the basis of the Prospectus after the expiry date. The Company will apply to ASX Limited (ASX) for admission to the official list of ASX and quotation of the shares on ASX within seven days of the date of the Prospectus.

Important Information

The Prospectus (including the Application Form) is available electronically through this website. A free paper copy of the Prospectus is available from the Company upon request by an investor. Neither ASIC nor ASX takes any responsibility for the contents of the Prospectus of the investment to which it relates.

The information in the Prospectus is not financial product advice and does not consider your investment objectives, financial situation or particular needs. The Prospectus should not be construed as financial, taxation, legal or other advice. The Company is not licensed to provide financial product advice in respect of its securities or any other financial products.

The Prospectus is important and should be read in its entirety prior to deciding whether to invest in the Company. There are risks associated with an investment in the Company and some of the key risks are set out in Section 11. You should carefully consider these risks in light of your personal circumstances (including financial and tax issues) and seek professional guidance from your stockbroker, solicitor, accountant, financial adviser or other independent professional adviser before deciding whether to invest in the Company. There may also be risks in addition to these that should be considered in light of your personal circumstances.

If you do not fully understand the Prospectus or are in doubt as to how to deal with it, you should seek professional guidance from your stockbroker, solicitor, accountant, financial adviser or other independent professional adviser before deciding whether to invest in the Company.

No person named in the Prospectus warrants or guarantees the Company’s performance, the repayment of capital by the Company or any return on investment made pursuant to the Prospectus.

The Offer

The distribution of the Prospectus outside of Australia may be restricted by law. The Prospectus is not intended to, and does not, constitute an offer of securities in any place which, or to any person to whom, the making of such offer would not be lawful under the laws of any jurisdiction outside of Australia. It is the responsibility of any applicant outside Australia to ensure compliance with all laws of any country relevant to their application, and any applicant should consult their professional advisers as to whether any governmental of other consents are required or other formalities need to be observed to enable them to apply for securities under the Prospectus. The failure to comply with any applicable restrictions may constitute a violation of securities law in those jurisdictions.

No action has been taken to register or qualify the securities of the offer under the Prospectus or otherwise to permit a public offering of the securities in any jurisdiction outside Australia. The Offer is not being extended to any investor outside Australia and may be restricted by law and persons who come into possession of the Prospectus outside Australia should seek advice on and observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.

The Prospectus accessible on this website is available to persons accessing the site from in Australia only. If you are accessing this site from anywhere outside Australia, do not download, print or view the Prospectus. By accessing the Prospectus, you acknowledge and confirm, among other things, that you are an Australian resident and are accessing the site from within Australia.

Exposure Period

The Corporations Act 2001 (cth) (Corporations Act) prohibits the Company from processing applications for securities under this Prospectus (Applications) in the seven-day period after the date of the Prospectus (Exposure Period). This period may be extended by ASIC for a further period up to seven days. The purpose of the Exposure Period is to enable this Prospectus to be examined by ASIC and market participants prior to the raising of funds under the offer. The examination may result in the identification of deficiencies in this Prospectus, in which case any Application may need to be dealt with in accordance with section 724 of the Corporations Act. Applications received during the Exposure Period will not be processed until after the expiry of the Exposure Period. No preference will be conferred on any Applications received during the Exposure Period.

Acknowledgement

The information on this website is provided for information purposes only and is subject to change without notice. Nothing contained on this website or in the Prospectus constitutes investment, legal, business, taxation or other advice. The information on this website and in the Prospectus does not take into account your investment objectives, financial situation or particular needs.

By clicking below and accessing the Prospectus on this website, you acknowledge that you have read and accept the terms set out in this notice and represent, warrant and agree that:

  • You are a resident of Australia accessing this website within Australia;
  • You are 18 years of age, or over;
  • You are not a resident of the United States nor currently located in the United States;
  • You are not acting for the account nor benefit of a person in the United States or any other foreign person;
  • You will not make a copy of the Prospectus available to, or release or distribute a copy of the Prospectus to, or for the account or benefit of, any person in the United States or in any other place in which, or to any other person to whom, it would be unlawful to do so (ineligible Persons); and
  • You are not acting as a nominee for, or otherwise for the account or benefit of, any ineligible Persons.
LTR Pharma Limited

IPO

LTR Pharma (ASX:LTP)

LTP

Offer Price

A$0.200

per share

Offer Size

A$7,000,000

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