SciGen partner increases investment
Friday, 04 November, 2005
The two largest shareholders in Singapore-based, ASX-listed biopharmaceutical company SciGen (ASX:SIE), SciTech Medical and Bioton, have entered into a share exchange agreement which may result in Bioton gaining a 44.7 per cent equity share in SciGen.
Under the agreement between Polish company Bioton and Singapore private healthcare company SciTech, Bioton will invest AUD$30 million to accelerate the launch of SciGen's portfolio of biopharmaceutical products to market.
SciTech is selling its shares to Bioton for $0.075 per SciGen share, a premium to the ASX market price of $0.067 at close of trading on Friday 28 October when the deal was entered into.
Saul Mashaal will remain as SciGen's executive vice-chairman and CEO, and will be elected to the supervisory board of Bioton.
Widespread resistance to common antibiotics is increasing: WHO
Increasing resistance to essential antibiotics poses a growing threat to global health, with one...
Dopamine helps our brains to let go of memories
In a discovery that could reshape how we think about memory, researchers at Flinders University...
Vaccine for elephant herpesvirus found to be safe
The vaccine could prevent deadly elephant endotheliotropic herpesvirus in calves — the...
