LONDON--(BUSINESS WIRE)--Clarify Pharma, an investment vehicle specialising in biotech and life sciences companies seeking to prove the safety and efficacy of psychedelic-based substances, is pleased to announce its intention to apply for admission of its Ordinary Shares to trading on the Access segment of Aquis Stock Exchange Growth Market (AQSE) in London, UK.
The flotation is expected to value Clarify Pharma at approximately £10.5m. The Company plans to raise approximately £5m before expenses, by way of a placing of 167 million ordinary shares at 3p each through First Sentinel Corporate Finance, the Company’s corporate adviser and joint broker alongside Tennyson Securities. First dealings in the shares are expected to commence later this month.
Psychedelics are a class of substances whose primary effect is to trigger non-ordinary stages of consciousness via serotonin receptor agonism. This effect can cause specific psychological, visual and auditory changes and often a substantially altered state of consciousness. The potential benefits of psychedelic drugs have been recognised in both the UK and the US and psychedelics are progressively emerging as alternative candidates to conventional therapies for individuals suffering from elusive maladies like PTSD, addiction, Alzheimer’s, and depression.
Clarify Pharma was set up to identify investment opportunities in this high growth sector. The Company believes that over time, the psychedelics sector will likely undergo a paradigm shift that is analogous to the change experienced by the cannabis industry, which resulted in the emergence of a global, multibillion-dollar industry. The Board also considers that there is a sizable potential market for psychedelic products as clinical trials into psychedelic-assisted psychotherapy continue to show promising results for the treatment of the above-mentioned mental health conditions. According to analysts, it is expected that the global psychedelics industry will be worth over US$100 billion.
Company Highlights
The Company will look to identify investment opportunities in the life sciences sector within the UK and Canada. The Board intends to generate long-term capital growth and build investments in an R&D pipeline of companies which are discovering, developing, or deploying safe and evidence-based psychedelic inspired medicines and experiential therapies that alleviate mental health problems and enhance wellbeing.
Net proceeds of the IPO will be used to identify and carry out due diligence on potential investments and to provide working capital for the Company’s initial operations in line with its acquisition and investment strategy. The Board expects to be able to develop its business substantially within 12 months of admission to AQSE.
The Company’s Directors have an established track record, experience and networks in the cannabinoid, cryptocurrency, digital assets management and decentralised finance, as well as media industries to drive value creation.
The Board of Directors include Jonathan Bixby (Executive Chairman) and Nicholas Lyth (Finance Director), as well as Michael Edwards, Jonathan Hives and Patrick McBride as Non-Executive Directors.
The Board of Advisors comprises Tom Kineshanko, co-founder and President of Filament Ventures - one of Canada's leaders in Psychedelic Medicines; Nav Dhaliwal, founder and CEO of NLX Capital Corp, which is a leader in psychedelic and cannabis venture capital and Gordy Bal who has been investing in psychedelics and mental health solutions through his Conscious Capital Venture Fund.
Jonathan Bixby, Executive Chairman of Clarify Pharma, said: “We are delighted to mark this next milestone in a new paradigm of medical research with Clarify Pharma’s listing on the public market. Our team is comprised of individuals with relevant expertise and deep knowledge of the sector. We look forward to creating significant value for our shareholders and truly believe that this industry has the potential to deliver safe and innovative solutions which can finally cater to individuals who may not benefit from conventional therapies and treatment.”
Board members:
Jonathan Bixby, Executive Chairman
The Board is chaired by Jonathan Bixby, who has over 20 years of experience in the technology sector, as a founder or investor of a number of public companies (Argo Blockchain PLC, Cellular Goods PLC, Guild Esports PLC, Leaf Mobile, Inc., Pioneer Media Holdings, Inc.). Jonathan has facilitated the transition of five companies to being publicly traded (directly or indirectly), has overseen a number of successful exits and has extensive experience chairing UK public company boards. He has been actively engaged in a number of M&A and IPO transactions and has built over US$2bn in market capitalisation in technology companies over the last five years.
Nicholas Lyth, Finance Director
Nicholas Lyth is a UK based, experienced board director and qualified accountant with over five years' experience advising a number of quoted companies including AIM-listed companies Univision Engineering Ltd, Altona Energy plc and Taihua plc. He is currently the Finance Director of NFT Investments plc and the CFO of Dispersion Holdings plc. Prior to his recent public company experience, Mr. Lyth was Group Finance and Purchasing Director of Belle Group, a manufacturer of engineering equipment operating across Europe, the US and Asia. He was also Head of Finance at Fothergill Group, a UK manufacturer of technical industrial fabrics, between 1996 and 2003.
Mike Edwards, Non-Executive Director
Mike Edwards, Executive Director and President, has started and invested in technology companies for over 20 years. Mike has invested in more than 40 technology startups including Punch’d, which was sold to Google, Summify, which was acquired by Twitter, Wander, which was acquired by Yahoo, AreaConnect, which was sold to Marchex, Wylie Interactive, which was acquired by Zynga, and PasswordBox, which was acquired by Intel.
Mike is actively involved in growing and supporting the cryptocurrency start-up community and connecting local entrepreneurs with the right investors, mentors and influencers in Silicon Valley, New York, Europe and Asia. Mike co-founded Growlab, a seed stage accelerator focussing on consumer facing digital product, which later merged with Extreme Startups to create Canada’s Highline accelerator, and cofounded and is a board member of Creative Labs, a venture capital backed start-up foundry that builds consumer technology companies by leveraging the Creative Artist Agency’s access to talent and audience.
Jonathan Hives, Independent Non-Executive Director
Jonathan Hives is an active member of the Chartered Insurance Institute, where he holds the Diploma in Financial Planning. At the age of 23 he left the UK to begin his journey in International Financial Planning, and having lived and worked in three continents, he has first-hand experience when it comes to cross-border financial planning. Over the last 12 years he has built up invaluable experience by advising high net worth individuals and family estates, practising all areas of wealth and succession planning. Jonathan prides himself on the service he provides, which is highly personalised, proactive and bespoke to his client’s objectives. Jonathan also holds Certificates in i) Discretionary Investment Management, ii) Financial Services and iii) Life and Pensions. He is also qualified as an Investment Adviser in the United States (Series 65) from his time working in New York.
Patrick McBride, Non-Executive Director
Patrick McBride was a co-founder of Eight Capital and is well known for building Canada’s psychedelic public capital markets. He has raised capital or advised MindMed, Numinus, PsyBio, Cybin Corp, Harvest Health, Willow Biosciences, Well Health, Champignon Brands, Charlotte's Web Holdings and Green Growth Brands amongst others.
Board of Advisors:
Tom Kineshanko
Tom Kineshanko is the co-founder and President of Filament Ventures one of Canada's leaders in Psychedelic Medicines. Filament has created a large psychedelic IP portfolio and currently listing on a Canadian public exchange. Tom is a well-known expert and investor in the psychedelics market and has invested in Cybin, Mindmed, Numinums, Neonmind and Optimi.
Nav Dhaliwal
Nav Dhaliwhal is the founder and CEO of NLX Capital Corp a leader in psychedelic and cannabis venture capital. Nav has funded and advised numerous psychedelic startups including Cybin (CYBN), FieldTrip and Gigamesh. Nav was the CEO of Supreme Cannabis (TSX: FIRE) and grew the company to over a $1B CAD valuation.
Gordy Bal
Gordy Bal is an experienced life sciences investor (Bulletproof and Oura Ring) and adviser to companies in the health and wellness space. Gordy has been investing in psychedelics and mental health solutions through his Conscious Capital Venture Fund and has built a significant network in the space including the senior leadership team at MAPS. With direct experience in psychedelic research, wearable technology, patient education, and growth marketing, he brings a considerable degree of expertise in this sector. Before turning his focus to Conscious Capital, Gordy spent over a decade building technologies in digital advertising that have transacted over a billion dollars online. In 2015, he founded an organisation called CTR, which invests in disruptive technologies, entrepreneurs, and media. Gordy has dedicated a major part of his efforts to bringing the power of plant derived substances to market.