Wednesday, 07 December 2022


Australia's Immuron completes strategic investment in UK's startup Ateria Health

21 November 2022 | News

Strategic investment of approximately £1.5 million (A$2.6 million) to acquire an initial 17.5% of Ateria Health

Image credit: shutterstock

Image credit: shutterstock

Australia's Immuron Limited has completed a strategic investment in Ateria Health Limited, a UK based company that has developed ground-breaking product for the treatment of irritable bowel syndrome (IBS).

Immuron has completed settlement of upfront cash investment of £1.5 million (funded from Immuron’s existing cash reserves), following satisfaction of conditions precedent for the transaction, including completion of Immuron confirmatory due diligence and Ateria shareholder approval.

Immuron has been allotted 800,767 shares in Ateria at £1.85 per share, representing 17.5% of the issued share capital of Ateria post the Company’s upfront cash investment.

As part of the strategic investment Immuron has been offered one Ateria board seat and the company will nominate a representative director to the Board. Immuron is also entitled to a second representative director upon exercise of the £1.47 million share option, expiring on 31 July 2023.

The strategic investment advances Immuron’s objective to enter the broader IBS market with leading products and strengthen the distribution of Immuron’s Travelan products through B2C online platforms and pharmacy and retail channels (B2B) in target markets.

 

Sign up for the editor pick and get articles like this delivered right to your inbox.

Editors Pick
+Country Code-Phone Number(xxx-xxxxxxx)


Comments

× Your session has been expired. Please click here to Sign-in or Sign-up
   New User? Create Account