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How can we explain a complex story to Australian investors to ensure a successful IPO?



Melbourne-based AdAlta is the pioneer of a novel technology platform that mimics key features of the antigen binding domain of shark antibodies into human proteins to create unique compounds, known as i-bodies, for therapeutic intervention in disease.

Its lead program is a novel treatment for fibrotic diseases. Its main technology platform competitors are in the USA and Europe. We were appointed to support the Company’s IPO on the ASX, to raise investment for its lead programme and its technology partnering. The key challenge was the small size of the IPO (AUS$10m), complex technology and pre-clinical stage of its assets.


  • Developed messaging that clearly explained the Company’s technology, ensuring suitable for International audiences.
  • Provided technical counsel on a suite of illustrations.
  • Edited the content of the Prospectus, wrote copy for a new website and provided counsel on design and layout.
  • Developed the investor presentation including copywriting and design layout.
  • Executed a media relations program with local business/investor media and with International trade media.
  • Supported IR roadshows and analyst outreach.


We worked closely with CEO, our senior consultant in Sydney and Australian design agency to deliver all materials within a month, ready for IPO roadshow. We created high awareness in the media with significant coverage achieved in publications such as: Fierce Biotech, Scrip, BioWorld, BioCentury, Bioshares, Biotech Daily, MergerMarket, The Australian, and the Australian Financial Review.

The Company was successful in reaching its target of AU$10 million in an oversubscribed offering, at AU$0.25, per share trading up to AU$0.29 on the first day and settling out at.