Actinogen Ltd (ASX:ACW)
About:
Actinogen Medical is focused on the treatment of Alzheimer’s disease and mild cognitive impairment. It is developing a novel drug to treat the condition and other age-related neurodegenerative diseases.
Forrest Capital's Role:
Forrest associates were substantial shareholders in UK biotechnology company Corticrine Ltd that owns a worldwide exclusive license agreement to develop the dementia drug UE2343. The drug was originally discovered at The University of Edinburgh and has had $25 million spent to transaction date with key cornerstone investor Wellcome Trust.
- Forrest negotiated the acquisition of Corticrine by Actinogen.
- Facilitated the appointment of Dr Jason Loveridge and Dr Bill Ketelbey to the board.
- Managed a capital raising of $4 million with the initial transaction.
- Managed $16 million in a follow-on capital raising.