Bioshares carried a piece on Opthea in its latest edition. Not too much in the article which hasn’t been covered in various threads on this site previously, but it did put the significance of the funding deal Opthea has managed to pull off into perspective.
It’s the largest capital raise for the sector (excluding raises conducted by CSL, Cochlear and ResMed) for non-asset purchases. It is at-risk funding to Launch Therapeutics with Opthea requiring to gain approval and achieve commercial success for repayment of funds.
Baldwin said Launch Therapeutics looks at around 300 such deals and proceeds with only two to three each year. According to Opthea CEO Megan Baldwin, Launch Therapeutics conducted nine months due diligence on Opthea and its drug development program.
Ann: Opthea secures up to US$170m in non-dilutive financing, page-11
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