Immuron Limited completed a strategic investment in Ateria Health

Immuron Limited (ASX: IMC) announced that it had completed a strategic investment in Ateria Health Limited, a U.K.-based company involved in developing a ground-breaking product for treating irritable bowel syndrome. As per the agreement announced on 13 October 2022, the company has completed the settlement of the upfront cash investment of £1.5 million and allotted 800,767 shares in Ateria at £1.85 per share, denoting 17.5% of the issued share capital of Ateria post the company’s upfront cash investment.

Immuron Limited has been offered one Ateria board seat and will nominate a representative director to the Board. The company is also entitled to a second representative director upon exercise of the £1.47m share option, expiring on 31 July 2023. Immuron’s objective of this investment is to enter the broader IBS market with leading products and strengthen the distribution of Immuron’s Travelan® products through B2C online platforms and pharmacy and retail channels (B2B) in target markets.

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