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Australian company secures IPO in US
One firm has advised Australian biotechnology company Benitec on their first IPO in the United States.
Lara Bullock
Firm: Baker & McKenzie (Benitec Biopharma Limited)
Value: US$13.8 million
Area: Banking and finance
Key Players: Sydney-based US corporate partner Andrew Reilly led the transaction with support of Kate Renaud, Guy Sanderson, Amrit MacIntrye and Serena Chow in Australia, and Marc Paul, Guy Birkenmeier, Nathaniel Douglas, Elizabeth Graffeo and Robert Grauman in the United States.
Deal Significance: Baker & McKenzie has advised Australian biotechnology company Benitec Biopharma Limited (ASX: BLT) on its US$13.8 million IPO in the United States with a listing on the Nasdaq (Nasdaq: BNTC).
Benitec is commercialising a CSIRO-developed and patented gene silencing technology called DNA directed RNA interference (ddRNAi). ddRNAi has the potential to cure a wide range of life-threatening human conditions and Benitec is developing treatments for hepatitis C and B, drug-resistant lung cancer and wet age-related macular degeneration.
Leading partner Mr Reilly said: “This transaction represents only the third IPO by an Australian company in the United States with a listing on Nasdaq in the past 20 years. We were able to provide the necessary US and Australian law advice to our client to complete the IPO in an effective and seamless manner.”
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