Revolutionising Addiction Treatment with a $14M Capital Raise

The client, is a company focused on developing treatments for social function and substance use disorders. They faced the challenge of securing additional funding in the vicinity of $14 million AUD through a Series B Capital Raise.

The primary challenge was ensuring the capital raise was successful, as it was crucial to advancing into a phase two trial stage.

The capital raise was based entirely on existing shareholders, requiring meticulous coordination and communication to secure the necessary funds.

The success of the client’s $14 million Series B Capital Raise can be attributed to the proactive and coordinated efforts of the Bio101 team.

The team, including Cam, Lachie, and others, provided comprehensive support by managing the full finance function, which encompassed bookkeeping, payroll, cash flow reporting, and Cosec duties.

They also attended board meetings and handled shareholder communications, ensuring all queries were addressed promptly.

The meticulous tracking of funds and documentation was crucial in maintaining transparency and accuracy throughout the process.

The process encompassed many shareholder queries, and compliance requirements with respect to documentation.

A lot of credit must goes to the CEO of the client, they played a significant role by actively sourcing non-dilutive funding and maintaining clear communication with shareholders.

The legal aspects were managed by Piper Alderman, while the Bio101 team ensured all administrative tasks were completed efficiently.

The team’s proactive approach, regular updates, and seamless coordination with the CEO and shareholders were instrumental in overcoming the challenges and securing the necessary funding.

Despite a tight timeline and challenges getting key personnel together, the team successfully ensured the capital raise was completed.

This collaborative effort not only facilitated the successful capital raise but also positioned the client for future growth and advancement in their R&D programs and projects.