Biotech Market Spotlight: QRxPharma and Living Cell Technology
Monday, 16 November, 2009
QRxPharma and Living Cell Technology have both undertaken capital raising exercises today - albeit via different routes - to fund further trials of their flagship technologies.
Sydney-based QRxPharma (ASX:QRX) has announced $21.6 million in capital raising through an $8 million institutional placing and a 1 for 5 renounceable rights issue worth an additional $13.6 million.
It plans to use the capital raised to fund Phase III trials for its MoxDuo IR (Immediate Release) dual-opioid pain treatment as well as for lodgement of a New Drug Application with the U.S. Food and Drug Administration in 2010.
Living Cell Technology (ASX:LCT) has announced a share purchase plan open to existing share holders as of November 18 to purchase up to $15,000 worth of new stock at 25c per share - a discount of 9% from the current price of 27.5c as of 1pm today. The offer is only available to investors in Australia and New Zealand and is valid until 11 December 2009.
The capital will be used to further clinical trials of LCT's DIABECELL for the treatment of type 1 diabetes.
Cartherics and Catalent announce enhanced partnership
To support immune cell therapy products for the treatment of cancer and endometriosis, Australian...
Alliance seeks to boost regional capacity in clinical trials
Launched this week, the Barwon Health–Deakin University Clinical Trials Alliance is...
Lipid science receives new Australia-led online hub
The Lipid Network launched this month to build links between researchers, clinicians and industry...
