Company: Taiwan Liposome Company, Ltd.
Symbol: TLC
Description: They are a clinical-stage specialty pharmaceutical company dedicated to the development and commercialization of best-in-class novel nanomedicines that combine our proprietary lipid-assembled drug delivery platform with approved active pharmaceutical ingredients (APIs).
Trade Date: 4/26
Shares: 4.7 million ($35m cash raise)
Price Range: $7.46-$7.46
Underwriter(s): Cantor
Co-Manager(s): CLSA, H.C. Wainwright, Janney Montgomery Scott, Laidlaw & Co. (UK) Ltd.
Terms Added: 4-16-18
Note: Their common shares are currently listed on the Taipei Exchange. On April 12, 2018, the last reported sale price of their common shares on the Taipei Exchange was NT$109.00 per share, or approximately $3.73 per share, equivalent to a price of $7.46 per ADS.
Business: They believe that their extensive experience with liposome science allows them to combine onset speed and benefit duration, and to improve API concentrations at target tissues while decreasing unwanted systemic exposures. Their BioSeizer lipid formulation technology enables both local sustained release and fast onset of APIs at the site of disease or injury with increased pharmacokinetic (PK) control, made possible by customization of lipid layers. BioSeizer is utilized in their TLC599, TLC399 and TLC590 programs. Their NanoX active drug loading technology enables better toxicity profiles, potential for reduced dosing frequency, and enhanced distribution of liposome-encapsulated APIs to the desired site. They believe NanoX is capable of loading over 50 various compounds and is applied to their TLC178 program. They believe their technologies can be used with a broad range of APIs and enable a simplified and scalable manufacturing process. Because their product candidates use already approved APIs, they are eligible to utilize the streamlined 505(b)(2) regulatory pathway for approval in the United States. They have used their proprietary technology platforms to assemble a diverse product candidate portfolio that targets significant areas of unmet medical need in pain management, ophthalmology and oncology. They anticipate that their four lead product candidates will be in pivotal clinical trials in 2019.
Insider Interest: Certain potential investors have indicated an interest to the underwriters in purchasing up to an aggregate of $20,000,000 of the ADSs offered hereby at the price offered to the public.
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