TTX - Tetratherix Limited

[System]

Tetratherix Limited (TTX) is an Australian biomedical company specializing in developing and commercializing biopolymers for regenerative medicine and targeted therapeutic delivery. Their core technology, Tetramatrix, is a synthetic, biocompatible, and resorbable polymer that can be injected and forms a hydrogel in the body, enhancing healing and tissue regeneration.

Core Technology:
Tetratherix has developed a proprietary fluid matrix called Tetramatrix, which is a water-based polymer solution that forms an adhesive hydrogel upon administration.

Applications:
Their technology is being developed for various applications, including bone reconstruction, cartilage regeneration, and targeted drug delivery.

Commercialisation:
Tetratherix is focused on commercialising their Tetramatrix platform technology and developing products for specific indications.

Business Model:
Tetratherix utilizes a contemporary commercial model, drawing inspiration from the technology and software industries, and is building a global supply of products derived from its platform technology at scale.

Funding and Growth:
The company has secured funding from various sources, including private and public investments and venture capital groups like Ryder Innovation Fund. They have also executed co-development licensing agreements with pharmaceutical companies to expand their market reach, including an agreement with a leading Chinese pharmaceutical company.

Focus on Regenerative Medicine:
Tetratherix aims to leverage its biopolymers to improve regenerative medicine by enabling the body's own healing processes.

Global Presence:
Tetratherix is expanding its global presence, with plans to develop and market products in key markets like China.

ASX Listing:
Tetratherix launched its IPO on the Australian Securities Exchange (ASX) in May 2025.

Team and Expertise:
Tetratherix has a team with expertise in advanced chemistry production and commercialization. They also have an advisory board with key figures in the biomedicine field.

It is anticipated that TTX will list on the ASX on 30 June 2025.

Tetratherix – Biostealth Regenerative Medicine

Tetratherix has developed a biostealth fluid matrix that evolves regenerative medicine through the use of our Tetramatrix™ platform technology

tetratherix.com

 

[Dona Ferentes]

Listing date	30 June 2025 11:00 AM AEST ##
Contact details	https://tetratherix.com/ Ph: +61 425 366 073
Principal Activities	Development, manufacture and sale of patented biomaterials
Issue Price	AUD 2.88
Issue Type	Ordinary Fully Paid Shares
Security code	TTX
Capital to be Raised	$25,000,000
Expected offer close date	17 June 2025
Underwriter	Barrenjoey Markets Pty Limited, Morgans Corporate Limited (Joint Lead Managers and Underwriters)

 

[Dona Ferentes]

Tetratherix shares were priced at $2.88, with the company raising about $25 million. They rose to $3.19 during the first day of trade, and closed at $3.02, up 7 per cent. That left the company capitalised at $152 million.

Tetratherix is backed by Radar Ventures, the venture capital fund run by Xero founder Rod Drury. The company produces a treatment called Tetramatrix, a water-based solution that can be injected into wounds and turns into an adhesive hydrogel to help repair tissue and bones.

Tetratherix was founded by University of Sydney biomolecular engineer Ali Fathi, who owns a 28 per cent stake. Fathi, now Tetratherix’s chief technology officer, began developing the product in 2011 as part of his PhD. Will Knox is the chief executive. Knox owns 6.7 per cent of the company and has a background in the industry, having founded and sold his own surgical and implant company uHealth to Device Technologies in 2017.

The company, in its prospectus, told investors it would use the money raised with the ASX listing to expand a manufacturing site and to fund more research and development of products based with Tetramatrix. “Following successful proof of concept pilot human studies for specific clinical indications, the company’s business model focuses on licensing its intellectual property to targeted market leaders,” the prospectus said.

Argo Investments emerged as one of the Tetratherix’s largest investors on Monday. Argo analyst Paul Frost said the company had “an interesting business model in the context of the partnerships they’ve established, the commercial arrangements and the co-development arrangements that they’ve embedded within these master agreements”.

Frost said that because Tetratherix’s product was considered a medical device its path through regulatory approvals would be “shorter”.

 

[Dona Ferentes]

Tetratherix shares were priced at $2.88, with the company raising about $25 million. They rose to $3.19 during the first day of trade, and closed at $3.02, up 7 per cent.

... and three days in , with no sign of retreat

 

[Dona Ferentes]

... and three days in , with no sign of retreat

no cause for alarm?

since listing

Company Financial commentary
• Strong cash on hand position $A29.3million as 30 June 2025, with zero debt financing.
• $3.9m cash outflows for May and June 2025, reflected in Appendix 1 use of funds table, driven by IPO costs and investment in R&D programs.
• Tetratherix is in a strong position to continue its focus on investment in Research and Development and expansion of its advanced manufacturing capabilities with its closing cash balance in line with prospectus assumptions.