Market Announcement – Listing of Wholly Owned Subsidiary The Directors of iQnovate Limited (NSX:IQN) (the Company) are pleased to announce that the Board has resolved to float its wholly owned pharmaceutical contract sales subsidiary, FarmaForce Pty Ltd (FarmaForce), via a new proposed ASX listing. The Company has committed to an IPO of FarmaForce and listing on the ASX by the end of the 3rd quarter 2015. Preliminary market research has indicated significant demand for this raising and it is anticipated that the proposed offer will be oversubscribed. The key details of this proposed new float, which is subject to all necessary approvals being obtained, are: • Offer to be made via a Prospectus • Capital Raising – it is proposed to raise at least $4 million • iQnovate Ltd shareholders will not be offered a priority entitlement under the offer as the company intends to retain a majority shareholding in FarmaForce • iQnovate Ltd – the Company’s shareholding in FarmaForce will be diluted by the proportion of the offer. The funds raised will be applied to working capital and the continued development of the FarmaForce Pty Ltd business. iQnovate Limited Chief Executive Officer Dr George Syrmalis said “Farmaforce is Australia’s most innovative pharmaceutical sales organization currently engaging in deals with multinational pharmaceutical companies. The company’s growth since inception has been remarkable and a listing on the ASX will provide a platform for further corporate growth”.
ASX ANNOUNCEMENT Appointment as Lead Manager – iQnovate Ltd Private Placement iQ3Corp Ltd (ASX:iQ3) is pleased to announce that it has been appointed as lead manager and to capital raise for the current private placement of iQnovate Ltd (iQN) shares. The placement of IQN shares to sophisticated and professional investors is expected to raise up to $5,000,000. For more information please contact the iQ3Corp Investor Relations Team.
Welcome to IQnovate http://iqnovate.com/ iQnovate is a publicly listed life sciences organisation trading on the National Stock Exchange of Australia (IQN) and cross listed on the GXG Main Quote in Europe (IQN) and the OTCQB in New York (IQNDY).
The life sciences sector is one of the best performing industries globally. Through the intersection of dedicated medical and clinical research, the life sciences sector supports the development of human therapeutics, clinical diagnostics and medical devices that empower people to lead happier and healthier lives. It is made up of a diverse range of industry participants including biotechnology firms, pharmaceutical conglomerates, manufacturing companies, research organisations, state and federal government departments, academic institutions, industry bodies, healthcare organisations and medical and allied health groups within the clinical setting as well as specialist providers who deliver support functions, products and services that are essential to the functioning of the sector.
The forecast for the increasing demand in the life sciences sector is being driven by considerable macro-forces including: A rapidly increasing global population An aging populace More sedentary lifestyles leading to obesity and other related health concerns including heart disease, diabetes and cancer An increase in the incidence of both infectious and chronic diseases Technological and medical advances Increased wealth in the emerging world and; Improved access to affordable healthcare in many parts of the world
Along with two wholly owned subsidiaries, FarmaForce Pty Ltd and Clnical Research Corporation Pty Ltd,iQnovate is uniquely positioned to provide integrated scientific advisory, IP asset management and contract drug development services to the global life sciences sector. http://farmaforce.com.au
FarmaForce is a contract sales organisation catering to the Australian Pharmaceutical Industry. http://crcaustralia.com
The leadership team across the three organisations brings decades of drug development experience as well as proven expertise in navigating the complex hurdles faced by stakeholders on life science projects.
This presents a compelling opportunity for investors to become active in the life sciences space. To register your interest in investing in the iQnovate philosophy, please contact us today: Phone: +61 2 8239 5400 Level 3 & 6, 222 Clarence Street Sydney NSW Australia 2000 email: firstname.lastname@example.org