In brief: BioDiem, Life Therapeutics, Bone Medical
Tuesday, 12 April, 2005
The Queensland Investment Corporation has ceased to be a substantial shareholder in flu vaccine developer BioDiem (ASX:BDM), having sold more than AUD$500,000 worth of stock in the company. BioDiem raised $12 million at $1.25 per share in its IPO at the beginning of last year, and QIC took a shareholding of 5.1 per cent. At time of writing Biodiem's shares were trading at $0.44.
Life Therapeutics (ASX:LFE) has signed a letter of intent to buy an unidentified US plasma company, with revenue of US$20 million in 2004. The acquisition agreement is expected to be closed by July 1.
Bone Medical (ASX:BNE) has announced it has mandated The Bank of New York to act as depositary bank for its level one American Depository Receipt (ADR) program. It has also appointed US biopharma executive Wayne Fritzsche as a non-executive director.
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