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Opthea – $128 Million IPO

Largest IPO by a development-stage Australian life sciences company

Singapore – November 3, 2020 – Cooley advised Opthea, a biopharmaceutical company focused on therapies for progressive retinal diseases, on its $128 million initial public offering of 8,563,300 American Depository Shares. The underwriters have the option to purchase up to an additional 1,425,000 shares. Partners Ferish Patel, Div Gupta, John McKenna and Brent Siler led the global Cooley team advising Opthea.

Opthea’s Nadsaq debut marks the largest IPO conducted by a development-stage Australian life sciences company, as well as the largest Australian biotech capital raise in a secondary Nasdaq IPO.

Citigroup Global Markets and SVB Leerink acted as joint book-running managers for the offering. Oppenheimer & Co. and Truist Securities acted as lead managers. 

Opthea, whose securities now trade on the Nasdaq Global Select Market under the symbol “OPT,” is developing a novel therapy to address the unmet need in the treatment of highly prevalent and progressive retinal diseases, including wet age-related macular degeneration and diabetic macular edema. 

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Related Contacts
Ferish Patel  Partner in Charge – Singapore Singapore, Hong Kong
Div Gupta  Partner New York
John McKenna  Partner Palo Alto
Brent Siler  Senior Counsel Washington, DC, Reston
Milson Yu  Partner Palo Alto
Emily Hu  Associate Palo Alto
Tess Morgan  Associate Palo Alto
Jason Minio  Senior Paralegal Boston
Aaron Pomeroy  Partner Colorado
David Dalton  Associate Los Angeles – Santa Monica, Los Angeles – Downtown
Mark Windfeld-Hansen  Senior Counsel Palo Alto
Natasha Leskovsek  Of Counsel Washington, DC
Jennifer Shanley  Associate New York