Next Science lists on ASX after raising $35 million to commercialise Xbio technology
Thursday, 18 April 2019 Next Science Limited (ASX:NXS) listed on the ASX today after raising $35 million in an initial public offering (IPO) last month to commercialise its anti-bacterial proprietary technology. Founded in 2012, the Sydney-based biotech has developed products to address the problem of bacterial biofilms that can result in chronic infections. The company has received financial backing from Australian businessman Lang Walker, with Walker Entities remaining Next Science’s largest shareholder after the IPO. Four products already in market An initial suit of four products are currently in market and Next Science has a strong development pipeline with multiple applications across medical devices, over-the-counter drugs and prescription pharmaceuticals. The launch of the company’s acne treatment is expected to begin in Australia during 2019 under a five-year agreement with Advance Skin Technology Pty Ltd. A further three new applications of the Xbio technology will be launched over the next 12 months as Next Science finalises partnership negotiations with leading specialist distributors. These include sinus and middle ear washes as well as antimicrobial washout treatments for minimally invasive surgical procedures. Numerous ongoing patent applications Next Science’s products were launched following extensive research and development in the US, including in vitro and in vivo testing, multiple clinical trials, four Federal Drug Administration clearances and more than 70,000 patient episodes of care to date. The company owns 100% of the intellectual property relating to its Xbio technology platform which is currently protected by 15 patents and 47 patent applications. Having been already awarded specific patents in wound gel, acne cream, oral rinse and post-surgical disinfection, Next Science has patents under review for acne infections, keloid abatement and minimum ciliotoxicity for use in sinuses and the middle ear.