PrimaryMarkets is proud to have supported First Pharma in completing its expansion capital raising, which was oversubscribed at A$5.0M.
First Pharma is an Australian company that owns and distributes a portfolio of high growth over-the-counter (OTC) pharmaceutical brands, including household names like KenKay and DermaScar. Due to strong demand, the initial target of A$3.5M was oversubscribed and the round closed with A$5.0M from existing and new investors.
The proceeds of the capital raising will be used for brand development and acquisitions, providing working capital for inventory and turbocharging sales and marketing.
Founded by managers from a number of pharmaceutical companies, including iNova, AstraZeneca, Steifel and Sherring Plough, the team has ambitions to scale First Pharma through organic growth and strategic acquisitions to be a market leader in OTC pharmaceutical brands across Australia and Asia Pacific.
For more information contact Kevin Shen, Director Corporate Development, PrimaryMarkets.