Micro-cap biotech Lakewood-Amedex Biotherapeutics files for a Nasdaq direct listing
IPO Overview
Lakewood-Amedex Biotherapeutics, which is developing a topical antimicrobial treatment for drug-resistant infections, filed on Friday for a direct listing on the Nasdaq. The shares of common stock listed will be sold by existing shareholders; Lakewood-Amedex will not raise new capital in its listing.
The Registered Stockholders plan to sell up to 4.7 million shares. In addition, the company agreed to sell 937,500 shares of Series C Preferred Stock to accredited investors for gross proceeds of $7.5 million; the shares were sold at a 20% discount to the stated value of $10 per share, and have a variable conversion price depending on the market price. At $8 per share, the company would be valued at about $122 million.
The company’s lead product candidate, Nu-3, is a broad-spectrum Bisphosphocin?, a proprietary synthetic antimicrobial nucleotide derivative, formulated for the topical treatment of chronically infected diabetic foot ulcers （DFUs）。 The company successfully completed a first-in-human exploratory clinical trial and plans to advance Nu-3 into a Phase 2a safety and dose-response trial, followed by a placebo-controlled Phase 2b study.
The University Park, FL-based company was founded in 2007 and plans to list on the Nasdaq under the symbol LABT. RBW Capital Partners is serving as an advisor on the deal, and a placement agent for the Series C sale.
About the Company
Lakewood-Amedex Biotherapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antimicrobial therapeutics to address critical unmet medical needs in infectious diseases, particularly those driven by antimicrobial resistance （AMR）。 We are addressing the global AMR crisis, which is directly responsible for approximately 1.27 million deaths annually and contributes to nearly 5 million deaths worldwide. The rising threat of drug-resistant pathogens, including MRSA, VRE, and others, has rendered many existing antibiotics ineffective, leading to higher healthcare costs, longer hospital stays, and increased mortality. Despite the urgency of this public health challenge, innovation in antibiotic development has slowed significantly, with many recent approvals derived from existing classes that remain vulnerable to known resistance mechanisms. Our lead product candidate, Nu-3, is a broad-spectrum Bisphosphocin antimicrobial formulated for the topical treatment of chronically infected diabetic foot ulcers （DFUs）。 We have successfully completed a first-in-human exploratory clinical trial and plan to advance Nu-3 into a Phase 2a safety and dose-response trial, followed by a placebo-controlled Phase 2b study.