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Botanix Pharmaceuticals raises $40mln to push its CBD-based skin disease treatments through the pipeline

Botanix Pharmaceuticals Limited (ASX:BOT) CEO Matt Callahan tells Proactive Investors the clinical-stage pharma company has raised $40 million.

Callahan says the cash will allow the Sydney, Australia, and Philadelphia, Pennsylvania-based company to accelerate its preclinical and clinical work in bringing its CBD-based skin disease treatments to phase 3. Additionally, these funds will allow the company to bring into the clinic its first application of CBD as a stand-alone antimicrobial. 

Quick facts: Botanix Pharmaceuticals Ltd

Price: 0.094 AUD

ASX:BOT
Market: ASX
Market Cap: $90.66 m
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