iX Biopharma

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FY2020 Result
Rev $0.9m (vs 0.6m)
Gross Loss $0.5m (vs 0.5m)
Net Loss $10m (vs 2m)

The Group is a specialty pharmaceutical company focused on the development and commercialisation of innovative therapies for improving the quality of life of those suffering from pain and other health conditions. The Company leverages its drug formulation expertise and patented sublingual drug delivery technology, WaferiX, to develop products for rapid onset of action with potentially more predictable effects and ease of use. The Group’s nutraceuticals division, Entity Health, is engaged in the development and commercialisation of nutraceutical products that address specific health conditions and improve quality of lifestyles throughout all phases of life.

During the half year ended 30 June 2020 (2H20), the Group has continued to progress the development of its pharmaceutical and nutraceutical product pipeline. 
https://links.sgx.com/FileOpen/iX_4Q20_R...eID=629810

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iX Biopharma enters strategic cooperation framework agreement with China Resources Pharmaceutical Commercial Group Co., Ltd

Singapore, 6 April 2021 – Specialty pharmaceutical company iX Biopharma Ltd (SGX:42C) announced that it has entered into a strategic cooperation framework agreement with China Resources Pharmaceutical Commercial Group Co., Ltd. (华润医药商业集团有限公司) ("CRPCG").

Under the Strategic Cooperation Agreement, iX Biopharma and CRPCG will engage in all-round cooperation in respect of iX Biopharma’s pipeline of innovative sublingual pharmaceutical and nutraceutical products in China. The parties will determine the appropriate products and model of cooperation, which may be via licensing or joint venture, and CRPCG will undertake the full scope of operation in China including registration, manufacturing, distribution and promotion.

iX Biopharma has developed a patented drug delivery platform technology, WaferiX. WaferiX delivers drug sublingually via the mucosa for better absorption, faster onset of action and predictable effect. The WaferiX delivery platform is particularly useful for drug repurposing which is a growing trend with a global market worth US$34 billion. Drug repurposing is where existing approved drugs are developed into new drugs targeting different indications or a different route of administration, at a lower development cost and risk.

CRPCG is part of the China Resources Pharmaceutical Group, which is the second largest pharmaceutical manufacturer and one of the three largest pharmaceutical distributors by revenue in China. Through this strategic cooperation, CRPCG will have access to iX Biopharma’s rich pipeline of unique sublingual products, formulated using WaferiX, to meet underserved medical needs across many health conditions. By leveraging on each other’s strengths and capabilities, both parties will cooperate to seize the immense opportunities in the China market.

More details in https://links.sgx.com/1.0.0/corporate-an...202021.pdf

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iX Biopharma@24

The Rights Issue is made on a renounceable basis to Entitled Shareholders on the basis of seven (7) Rights Shares for every 100 existing Shares.

The Issue Price for each Right Share is S$0.20, payable in full upon acceptance and application.

The Company intends to utilise the proceeds from the Rights Issue to fund manufacturing and marketing activities for the Group’s products and for general working capital purposes.

In view of the Irrevocable Undertakings and the savings in costs enjoyed by the Company as a result of not having to bear any underwriting fees, and there being no minimum amount that must be raised from the Rights Issue, the Company has decided to proceed with the Rights Issue on a non-underwritten basis.

IMPORTANT DATES AND TIMES:
Last date and time for splitting and trading of Nil-Paid Rights : 13 July 2021 at 5.00 p.m.
Last date and time for acceptance and payment for Rights Shares : 19 July 2021 at 5.00 p.m. (9.30 p.m. for Electronic Applications
Last date and time for renunciation and payment for Rights Shares : 19 July 2021 at 5.00 p.m.
Last date and time for excess application and payment for Rights : 19 July 2021 at 5.00 p.m. (9.30 p.m. for Electronic Applications Shares
https://links.sgx.com/FileOpen/OIS.ashx?...eID=673228

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