Project Summary
Expanding the current revenue-generating Melbourne-based contract development and manufacturing organization (CDMO), the Project is venturing into Perth. With the support of a $5 million grant from the WA government and this quest for an additional $2.5 million, we will initiate operations at the new manufacturing facility in Perth. This strategic expansion involves introducing new services, specializing in the formulation and sterile manufacturing of preclinical, precision (personalized) medicine, and clinical trial materials.
This initiative addresses the growing demand in Australia for personalized medicine and clinical trial materials, presenting a distinctive opportunity. The Perth facility will concentrate on the development and small-scale production of sterile liquids, as well as vaccines, including mRNA vaccines.
Project Description
The Offer is being made as a prerequisite to Opal’s acquisition of Formulytica Pty Ltd ACN 605 865 825 (“FLT”).
• The proceeds from the Offer will be used to complement the $5 million grant awarded to Opal by the Western Australian (WA) State government through its Investment Attraction Fund.
• The grant will be used to assist Opal to establish a facility in Perth to manufacture sterile liquid pharmaceutical products suitable for:
− personalised medicine e.g. patient-specific cancer vaccines, and
− clinical trial supplies (i.e. the drug material administered to patients in clinical trials to test new medicines).
• This addition will expand FLT’s existing Melbourne-based pharmaceutical development business.
• The merged companies will fill a growing need in the Australian pharmaceutical market for services to assist those transitioning from research stage to clinical trial development.
• The business will increase the inhouse intellectual property portfolio developed by FLT through partnerships with academic and medical research institutes.
• The expertise of FLT’s scientists combined with Opal’s commercial expertise will promote the revenue growth of the merged business.
FLT is a revenue-generating pharmaceutical development company which currently specialises in the formulation and development of topical, oral, ophthalmic and injectable products. FLT generates revenue from its fee-for-service business and also from royalties from licenses to its innovative technology. Formulytica was formed in response to a
global market demand from companies wanting to outsource their topical and injectable formulation development projects. FLT services companies who lack the internal resources, time or the skill set to develop new formulations and prepare market-ready products.
Investment Opportunity Details
Summary of the offer (to eligible investors) and subject to Information Memorandum
Share issue price: AU$0.25 with one free attaching Option exercisable at AU$0.25 expiring 10 October 2025
No. of Shares on issue pre-Acquisition: 26,419,838
Post-Acquisition & Post-Issue of Offer securities: 57,362,392
Full diluted post-Issue of Offer securities: 67,362,392
Investor information
Financial information
Investment sought: $2 million - $5 million
Document(s) / Video(s):
Project information
Project highlights:
Summary of the offer (to eligible investors) and subject to Information Memorandum
Share issue price: AU$0.25 with one free attaching Option exercisable at AU$0.25 expiring 10 October 2025
No. of Shares on issue pre-Acquisition: 26,419,838
Post-Acquisition & Post-Issue of Offer securities : 57,362,392
Full diluted post-Issue of Offer securities : 67,362,392
Project timeline:
Expected start date:
01 December, 2023
Funding round finish date:
31 October, 2023
More Project details will be updated soon.
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