Thomson Geer assists Microba Life Sciences on ASX debut

The company successfully raised $30m for its IPO

Thomson Geer assists Microba Life Sciences on ASX debut

Thomson Geer has helped Brisbane-based precision microbiome company Microba Life Sciences Limited to list on the ASX with a $30m IPO.

The IPO was supported by institutional, professional and retail investors, including NYSE-listed biotech company Ginkgo Bioworks, which is backed by Bill Gates. The shares were offered at $0.45 per share, which gives Microba a market capitalisation of around $123m on an undiluted basis.

Financial services firms Bell Potter Securities Limited and Canaccord Genuity (Australia) Limited served as joint lead managers and underwriters for the transaction.  

“We have received significant investor demand to continue building the premier global microbiome dataset and accelerating the discovery and development of new therapies,” Microba chairman Pasquale Rombola said. “Microba will have a positive impact on human lives globally when we are successful in achieving our goals.”

Operating in the emerging US$4.89bn gut microbiome sector, Microba analyses microbiome to discover and develop novel therapeutics for major chronic diseases and delivers gut microbiome testing services to researchers, clinicians, and consumers globally. Among the Microbe board members is Professor Ian Frazer, the co-inventor of the technology behind the HPV vaccine against cervical cancer.

The Thomson Geer team advised Microba on all aspects of the listing, including legal requirements in relation to the prospectus and the due diligence process. Partner Emma Cook led the team on the transaction with assistance from senior associate Belinda Pinnow and lawyer Robin Mahly.

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