Genetic Signatures lists on the ASX

Molecular diagnostics company Genetic Signatures listed on the ASX today under the stock code ‘GSS’, following a successful IPO which achieved the maximum raising of $7.5 million.

The company produces diagnostic kits which quickly and accurately screen patient samples for pathogens that are commonly associated with medical conditions such as gastroenteritis and respiratory infections. CEO Dr John Melki said the products have been “developed to be platform agnostic, thereby maximising the addressable market by reducing the need for capital expenditure by customers”.

The company launched the prospectus for the IPO in November last year and initially planned to list on the ASX on 23 December. In February this year, the closing date of the IPO was extended to 20 March.

“The proceeds of the IPO will be applied to accelerate the company’s product development pipeline and to increasing new business development via the continued commercial rollout of our products in Australia and the EU, as well as entry into the US market,” said Dr Melki.

Genetic Signatures (ASX:GSS) shares were trading at $0.43 as of around 12.30 pm on Tuesday.