Lander & Rogers' capital markets team has advised ASX-listed clinical-stage radiopharmaceutical company Clarity Pharmaceuticals on its landmark $203 million institutional placement, marking the largest capital raising in the company’s history.
The raise was supported by a select group of institutional investors and completed in an unusually short timeframe. The raising was over-subscribed and completed at a 2.2% premium to Clarity's last closing price prior to the raise and an 18% premium to its 15-day volume-weighted average price.
Funds raised will support a number of Clarity’s high-value pivotal clinical trials, advancement of key milestones in its therapeutic and diagnostic pipeline, continued strategic manufacturing expansion, and recruitment of key roles in its global commercial team.
The Lander & Rogers team was led by Corporate partners David Morris and David Tink, and supported by partner Simon Davidson, together with senior associate Breanna Taylor and lawyer Angus Bryce.
David Morris commented on the transaction:
"This deal was executed at remarkable speed and at a premium, underscoring the strength of Clarity’s relationship with its investor base and the strategic importance of its upcoming clinical and commercial milestones. The core Lander & Rogers deal team has now successfully supported Clarity in raising over $410 million through its IPO in 2021 and subsequent equity raisings, and we are incredibly proud to have worked with the Clarity team on these transactions."
David Tink added:
"We are delighted to have supported Clarity Pharmaceuticals on this transformative capital raising. The transaction reflects strong market confidence in Clarity’s pipeline and its unique SAR Technology platform, which has the potential to change the future of cancer diagnostics and treatment."
Lander & Rogers’ role included advising on the structuring of the transaction, the fundraising documentation, regulatory compliance, and execution. The firm continues to work closely with ASX-listed clients across a range of sectors, including life sciences. The team also advised Clarity Pharmaceuticals on its previous capital raise in April 2024.
