Botanix Pharmaceuticals (ASX:BOT) said it would not rely upon a partial waiver granted by the ASX after it verified that the securities under its current placement capacity are sufficient to meet its obligations in relation to an earlier loan facility, according to a Tuesday Australian bourse filing.

Botanix and its wholly-owned unit, Botanix Pharmaceuticals Inc., entered into documentation with Kreos Capital VII (UK) and related entities for a loan facility of up to $30 million.

The ASX had partially granted it a waiver of listing rules to allow the firm to seek shareholder approval at its annual general meeting for the ratification of the agreement to issue securities under the facility, so that those securities would not take up its placement capacity.