The company has applied for its ADSs to be listed on the Nasdaq Global Select Market under the BNTC stock ticker. Be advised that Benitec’s ordinary shares are listed on the Australian Securities Exchange under the BLT symbol.
Benitec is a clinical-stage biotechnology outfit that is developing a novel, proprietary therapeutic technology platform that combines gene silencing and gene therapy with a goal of providing sustained and long-lasting silencing of disease-causing genes from a single administration.
Monday’s IPO filing showed that the sole bookrunner will be BMO Capital Markets, with Maxim Group listed as the lead manager and Roth Capital Partners listed as the co-manager.
Benitec’s own description specifically states:
We believe our technology has the potential to be a “one shot” cure for a wide range of diseases that are currently addressed by strict ongoing treatment regimens or that have no effective treatment or only palliative care options. We are using our technology, called DNA-directed RNA interference, or ddRNAi, to develop our pipeline of product candidates for the treatment of numerous chronic and life-threatening human diseases, such as hepatitis C, hepatitis B, age-related macular degeneration, or AMD, drug-resistant non-small cell lung cancer, or NSCLC, and oculopharyngeal muscular dystrophy, or OPMD. These diseases have large patient populations, with the exception of OPMD which is a rare disease. In addition, we have licensed our ddRNAi technology to other biopharmaceutical companies whose pipeline programs are progressing towards, or are in, clinical development for applications including HIV/AIDS, retinitis pigmentosa, Huntington’s disease, cancer immunotherapy and intractable neuropathic pain.
All proceeds from this IPO will be for funding the company’s R&D program of trials and pre-clinical studies.
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