In Brief: Polartechnics, Medsaic, Epitan, Genesis Research and Development Corporation, PharmAust, Advanced Molecular Technologies
Friday, 15 July, 2005
Polartechnics has announced an increase in unaudited revenue results for the financial year ending June 2005 by 280 per cent to AUD$6 million, compared to $2.1 million for the previous financial year. Company chairman, Robert Hunter, said the growth in revenue reflects the company's successful transition from a research phase to a focus on manufacturing, marketing and sales.
University of Sydney spin-off, Medsaic has commenced a strategic research relationship with bioinformatics consultancy Emphron Informatics. Dr Mervyn Thomas, founder of Emphron, will act as senior biostatistician to maintain, interpret and analyse the data generated by Medsaic's proprietary technology, DotScan.
Epitan's share price rose from 52 cents to 59.5 cents yesterday, leading the ASX to issue a speeding ticket to the company. Epitan referred to the AUD$3.5 million capital raising by way of private placement to institutional investors in Europe and Australia earlier in July as a possible explanation for the changes in share price.
New Zealand-based Genesis Research and Development Corporation (NZSX/ASX:GEN) has elected Joachim (Aki) von Roy as chairman of the board. Dr Stewart Washer (Australia) was elected as a director at the AGM.
PharmAust (ASX:PAA) is providing recently incorporated specialist chemistry company Advanced Molecular Technologies with facilities and in-kind support over a four year period in return for a 15 per cent stake in the company.
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