Liberum acts as Nomad, Broker and Sole Bookrunner on Futura’s Placing and Retail Offer to raise £12.0 million
We are pleased to announce that Liberum acted as Nomad, Broker and Sole Bookrunner on a Placing and Retail Offer to raise £12.0 million for Futura Medical plc (“Futura” or the “Company”). The fundraise comprised of a £10.0 million Placing and a £2.0 million Retail Offer via PrimaryBid.
Futura is a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® technology. MED3000 is Futura's leading product, a topical gel formulation that is a breakthrough treatment for erectile dysfunction through a unique evaporative mode of action.
The Company intends to use the net proceeds of the equity raise to fund:
- the confirmatory clinical study (FM71) required for FDA regulatory submission for MED3000 as a DeNovo Medical Device;
- the scale-up of manufacturing activities, enabling lower costs for EU and other market launches;
- central activities relating to commercial out-licensing partner support; and
- general working capital purposes to support Futura's planned operations beyond US approval.
The fundraise has introduced a number of new institutional investors onto Futura’s shareholder register.
Liberum has been Nominated Adviser and Broker to Futura since May 2019 and acted as Nomad and Broker on the Company’s fundraise in January 2020.
Liberum Team
Board – Bidhi Bhoma
Investment Banking – Richard Lindley, Euan Brown, Kane Collings
Research – Graham Doyle
Sales – Oliver Baxendale, Alistair Smallwood, Jamie Vickers, Gabriella Crowley
CIR – Lynsey Cox, Nicole Barbour
Legal – Rebecca Gordon, Alice Foster
