Alchemia establishes level 1 ADR program
Friday, 20 August, 2004
Brisbane biotech Alchemia (ASX: ACL) has taken the first step towards a NASDAQ listing, announcing it will be establishing a Level One American Depositary Receipt (ADR) program in coming months.
Managing director Dr Tracie Ramsdale said a NASDAQ listing was a natural extension of the company’s increasing focus on the United States, which was the primary market for its future products.
Earlier this month, Alchemia completed the scale-up of the manufacturing process for its synthetic heparin, which it is developing with partners Dow Chemical and American Pharmaceutical Partners.
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