Shareholder Approval Key as Argent BioPharma Pursues AusCann Assets and US Listing

Strategic Financing to Fuel Growth

Argent BioPharma Ltd (ASX – RGT) has announced a significant financial boost with the securing of an A$11 million convertible securities facility from US-based venture fund C/M Capital. This funding is earmarked to complete the acquisition of key assets from AusCann Group Holdings Limited and to support Argent’s expansion strategies focused on North and South American markets.

The initial tranche of A$3 million will be drawn immediately upon shareholder approval, providing working capital and enabling Argent to finalize the AusCann acquisition. Subsequent tranches of up to A$8 million are available within 18 months, subject to conditions, offering the company a comfortable operating runway extending well into 2026.

Acquisition Unlocks European Manufacturing and Distribution

The AusCann acquisition, valued at approximately US$15 million, brings to Argent a suite of valuable assets including the Neuvis® oral drug delivery platform, FDA-facing epilepsy preclinical data, and a fully operational EU-GMP grade cannabinoid manufacturing facility in Europe. Importantly, Argent also gains a near 20% stake in ECC Pharm Limited, which provides access to a large German pharmaceutical distribution network.

This combination of manufacturing capability and established distribution channels positions Argent to accelerate market entry and growth across Europe, complementing its existing clinical-stage biopharmaceutical pipeline focused on drug-resistant epilepsy and inflammatory disorders.

Leadership Changes Signal New Phase

Alongside the financing and acquisition, Argent announced board changes to steer the company’s next chapter. Roby Zomer, the current CEO, will transition to Non-Executive Chairman, while Andrew Chapman joins as Executive Director. Gary Hermon will step down, and Daniel Robinson remains as an independent Non-Executive Director. These moves reflect a strategic realignment as Argent prepares for its planned dual listing on a major US stock exchange.

Roby Zomer expressed confidence in the partnership with C/M Capital, highlighting their deep expertise in US capital markets and biotech investment. He emphasized that the funding and asset acquisition collectively strengthen Argent’s operational and financial position, enabling it to emerge as a fully funded, globally focused biopharmaceutical company.

Convertible Notes and Shareholder Approval

The financing facility is structured as unsecured convertible securities with a face value of 110% of the investment amount and an 18-month term. Conversion prices are set with protections to ensure fair valuation. Additionally, Argent has agreed to amend terms on existing convertible notes issued under prior facilities, subject to shareholder approval at the upcoming 2025 Annual General Meeting.

Shareholder approval remains a key milestone for the initial tranche release and note amendments, introducing some execution risk. However, the company’s clear communication and strategic alignment with C/M Capital suggest strong backing for these measures.

Looking Ahead

With the AusCann assets integrated and the new funding secured, Argent BioPharma is poised to accelerate its clinical and commercial programs. The expanded manufacturing and distribution footprint in Europe, combined with a strengthened financial base and leadership team, set the stage for Argent’s anticipated US market listing and broader global ambitions.