Eiffel to raise $3 million
Friday, 06 August, 2004
Shares in Sydney drug re-engineering company Eiffel Technologies (ASX: EIF) slumped today when the company announced a capital raising of AUD$3.0 million, placing 36.4 million fully paid ordinary shares at 8.25 cents per share.
A proportion of the placement will be subject to approval at an extraordinary general meeting. The balance, of approximately 14 per cent of the company's capital, will be issued immediately. The placement was supported by existing shareholders and new institutional investors.
In a statement, the company said it plans to use the funds for manufacturing, screening of further re-engineered drugs, pre-clinical studies and patent applications. It will also explore the potential to acquire additional re-engineering technology platforms and complementary drug delivery technologies.
Shares were down 10 per cent to 8.8 cents at time of writing.
Babies of stressed mothers likely to get their teeth earlier
Maternal stress during pregnancy can speed up the timing of teeth eruption, which may be an early...
Customised immune cells used to fight brain cancer
Researchers have developed CAR-T cells — ie, genetically modified immune cells manufactured...
Elevated blood protein levels predict mortality
Proteins that play key roles in the development of diseases such as cancer and inflammation may...
