Martin Rogers Explained

Martin Rogers (born 1981) is an Australian bioentrepreneur who has been associated since 2007 with a number of ASX-listed biotechnology companies, including Prima BioMed, which he led from 2007 to 2012.

Background

Rogers attended the University of New South Wales between 1999 and 2004 where he gained a double degree in chemical engineering and computer science. Between 2004 and 2007 he engaged in a number of entrepreneurial pursuits as well as worked at Macquarie Bank.^[1]

Prima BioMed

Rogers was part of an investor group that effectively took control of Prima BioMed in late 2007, when he was appointed a director. At that time Prima had Phase IIa data for its CVac cancer vaccine product, but did not have the funds to progress further. Under Rogers' leadership Prima achieved four main things:

• Raised approx. A$82m in new capital. Rogers started with a 1-for-2 rights issue in October 2007 (A$2.0m)^[2] and followed with Share Purchase Plans in December 2008^[3] and June 2009^[4] (each approx A$0.2m) and a share placement in June 2009 (A$1.5m)^[5] before securing an equity funding line which allowed A$14.7m to be raised between July 2011 and March 2011. From late 2009 capital raising became easier. A third Share Purchase Plan in December 2009 raised A$13.7m^[6] while a placement and associated Share Purchase Plan in June 2011 raised A$41.4m.^[7] Between 2009 and 2012 the exercise of options brought in another A$8.4m (A$1.3m in 2009/10,^[8] A$5.1m in 2010/11^[9] and A$2.0m in 2011/12^[10]).

• Experienced an increase in its share price. Prima stock re-rated 19-fold between December 2007 and April 2011, creating a company with a market value of ~A$300m.^[11]

• Moved CVac into mid-stage clinical studies. The extra funding Prima was able to raise allowed CVac to be taken into Phase IIb studies from 2010 with a runway into Phase III.

• Became a Nasdaq-listed company. Prima's ADRs started trading on Nasdaq in April 2012.

Prima announced in May 2012 that Rogers would be stepping down as CEO.^[12] He left Prima at the end of August 2012. By the end of tenure Prima had made it into the S&P/ASX 300.^[13]

Since Prima Biomed

Since 2012 Rogers has been involved at board level in a number of ASX-listed biotech companies, including Cellmid (ASX: CDY) between September 2012^[14] and June 2015;^[15] Rhinomed (ASX: RNO), since September 2012;^[16] OncoSil Medical (ASX: OSL) since April 2013;^[17] and Actinogen (ASX: ACW), since September 2014.^[18]

In 2018, Martin Rogers, of KTM Ventures, co-invested with Mike Tilley to purchase a 30% stake in cryptocurrency exchange Independent Reserve.^{[19] [20]}

Notes and References

1. http://www.asx.com.au/asxpdf/20071016/pdf/3154n4hhtxgzr8.pdf
2. News: Company announcement - non-renounceable rights issue. 23 July 2015. Prima BioMed. 23 October 2007.
3. News: Company announcement - Completion of Share Purchase Plan. 23 July 2015. Prima BioMed. 9 January 2009.
4. News: Company announcement - Completion of Share Purchase Plan. 23 July 2015. Prima BioMed. 29 June 2009.
5. News: Prima BioMed - Notice of Extraordinary General Meeting. 23 July 2015. Prima BioMed. 25 May 2009.
6. News: Company announcement - Completion of Share Purchase Plan. 23 July 2015. Prima BioMed. 1 December 2009.
7. News: Company announcement - Prima BioMed raises $20 million in Share Purchase Plan. 23 July 2015. Prima BioMed. 28 June 2011.
8. Web site: Prima BioMed 2010 Annual Report. Prima BioMed. 23 July 2015.
9. Web site: Prima BioMed 2011 Annual Report. Prima BioMed. 23 July 2015.
10. Web site: Prima BioMed 2012 Annual Report. Prima BioMed. 23 July 2015.
11. Web site: Rhinomed (RNO) - Breathtaking early stage opportunity. Rhinomed. Baillieu Holst. 23 July 2015.
12. http://www.asx.com.au/asxpdf/20120524/pdf/426fwpvk9p6xsb.pdf
13. Web site: Prima BioMed: Time to change leader. 24 May 2012.
14. http://www.asx.com.au/asxpdf/20120919/pdf/428t55878z23cs.pdf
15. http://www.asx.com.au/asxpdf/20150526/pdf/42ysxlscqdmj7q.pdf
16. http://www.asx.com.au/asxpdf/20120903/pdf/428gd108fszz38.pdf
17. http://www.asx.com.au/asxpdf/20130403/pdf/42f0v52ty3fcm2.pdf
18. http://www.asx.com.au/asxpdf/20140827/pdf/42rs6t46n69817.pdf
19. Web site: 2018-03-14 . Mike Tilley backs cryptocurrency exchange Independent Reserve . 2023-10-30 . Australian Financial Review . en.
20. Web site: 2022-11-23 . Forget the carnage; insiders are thriving in crypto . 2023-10-30 . Australian Financial Review . en.