NuSep erects NxGen prospectus
Thursday, 12 March, 2009
NuSep has issued a prospectus for its reverse takeover of sexual dysfunction specialist NxGen Pharmaceuticals.
NuSep is looking to raise $5 million by offering 100 million shares at 5c. It will hold an EGM tomorrow to approve the acquisition.
The NuSep plan is to divest its electrophoresis gel and sperm separation business into a new company called Prime BioSeparations.
NuSep supplies the gels to the life science research market and is completing clinical trials of a sperm sorting machine for the IVF market. It also fractionates plasma products for the research sector.
NxGen is into sexual dysfunction, premature ejaculation and drug addiction. It supplies a nasal spray for erectile dysfunction and a naltrexone implant for alcohol, nicotine and opiate addiction.
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