A$5 million strategic Placement + Share Purchase Plan

Botanix (ASX:BOT) has today lifted its trading halt, sharing news that it has secured a commitment of A$5.0million from a highly respected institutional investor, Antares Capital. The Company will also offer a limited Share Purchase Plan (SPP) for eligible AU and NZ shareholders to raise up to A$3 million.

Click here to read today’s ASX release.

Significant R&D Tax Incentive Refund

Botanix has today announced it has received a Research and Development (R&D) Tax Incentive Refund of A$3,669,439 for the 2021/2022 financial year.

Click here to read today’s ASX release.

Promotion of Dr Howie McKibbon to Chief Operating Officer

Botanix has announced the promotion of Dr Howie McKibbon to the role of Chief Operating Officer, from his current position as Chief Commercial Officer.

Howie has more than 20 years of leadership experience in the pharmaceutical industry. He has launched 15 products including 11 in dermatology, and managed over 30 dermatology products. Importantly too, he played a significant role in two of the world’s largest dermatology acquisitions with combined valuations of $7.8 billion. 

Howie’s role will be expanded to include responsibility for all commercial, manufacturing, medical affairs and regulatory activities. We believe the breadth and depth of his experience will be invaluable as the Company prepares for FDA mid-cycle review of our lead asset, Sofpironium Bromide in late Q1 2023.  

Click here to read today’s ASX release.

Video Interview | Howie McKibbon

Botanix’s Chief Commercial Officer, Howie McKibbon, was interviewed on Ausbiz this week to discuss the positive results from our BTX 1702 Phase 1b/2 clinical trial for rosacea. 

Research Report by Euroz Hartleys – 14 October 2022

Botanix is pleased to share a recent analyst report published by Euroz Hartleys following last week’s announcement of positive results from our BTX 1702 Phase 1b/2 clinical trial for rosacea. 

Analyst Seth Lizee noted:

“We believe the rosacea treatment universe is prime for disruption, with a gap in the market for drugs that can deliver similar efficacy without the side effects and limitations. 

“Overall, these results strengthen BOTs already valuable pipeline of products, led by its lead asset Sofpironium Bromide, which the company recently submitted a New Drug Application (NDA) for to the FDA (12 month review process).”

Read the full report.

Positive BTX 1702 Phase 1b/2 Clinical Study for Rosacea

Botanix has released positive data from its BTX1702 rosacea clinical study. 

The Phase 1b/2 randomised, double-blind vehicle-controlled study examined the effects Botanix’s CBD formulation BTX 1702 in adults with moderate to severe papulopustular rosacea over an 8-week treatment period. The study tested two different concentrations of BTX 1702 topical gel – 10% and 20% – alongside a control arm. 

Pleasingly, both the 10% and 20% doses showed clinically meaningful results, with the 10% concentration showing statistically significant reduction in inflammatory lesions – an FDA-designated endpoint for the study. A review of the photo evidence from the study also demonstrated visibly reduced redness in target patients. 

Both doses were found to be very safe and well tolerated when compared to the control gel. 

Botanix medical advisor, Dr Ira Lawrence commented:

“To achieve this level of inflammatory lesion reduction and improvement in both IGA and CEA within 8 weeks is very exciting, particularly with such an excellent safety profile.”

Rosacea affects more than 430 million people worldwide, and the market for treatments is expected to reach US$2.6 billion by 2025. 

Click here to read today’s ASX release