In brief: Genesis Biomedical, Select Vaccines, Pharmaxis

Sydney-based Genesis Biomedical (ASX:GBL) has closed its underwritten share offer early and oversubscribed raising AUD$2.4 million, substantially boosting its coffers -- the firm had $586,000 at the end of the quarter.

The capital was raised through the allotment of 80 million shares at $0.03 plus 80 million free attaching options to acquire ordinary shares at $0.03 on or before 30 November 2010. The offer was fully underwritten by SA Capital.

Meanwhile Select Vaccines (ASX:SLT) has raised $177,379 in its 1 for 4 rights issue at $0.13 per share with a free one for two attaching option. Taylor Collison underwrote $1,055,000 leaving a $877,621 shortfall to be taken up by them.

Drug developer Pharmaxis (ASX:PXS) has signed a new distribution contract for its asthma management tool Aridol with Trimedal in Switzerland and Liechtenstein.

Trimedal is a specialist respiratory and allergy pharmaceutical company based in Zurich. It has an extensive network of contacts with pulmonary specialists allergists and respiratory laboratories that will be critical for the market success of Aridol, Pharmaxis said. The five-year agreement is effective immediately, and builds on Pharmaxis' earlier clinical and pre-registration activities for Aridol in Switzerland.

Pharmaxis lodged its application for regulatory and marketing approval of Aridol with the Swedish medical Products Agency (MPA) in May 2005 and anticipates registration for Aridol during the first half of 2006. The company is also expecting Australian approval shortly.

Pharmaxis signed its first European agreement for distribution and marketing of Aridol in Scandinavian countries with Nigaard Pharma in January.