Autogen poised for Nasdaq listing

Melbourne gene discovery company Autogen (ASX: AGT) has moved a step closer to listing on Nasdaq with the appointment of a strategic and corporate advisor in the United States.

Autogen named New York firm Global Markets Capital Corporation as its advisor as it aims to build a profile in the US.

Chief operating officer Prof Greg Collier said the step was part of the company's strategy to establish connections in the US and Europe and builds on its existing collaborations with Germany's Merck Lipha and Sequenom in the US.

"It is critical that we have connections in the US and Europe before we try to attract US interest in the company, so we are now establishing major strategic collaborative links," Collier said.

GMC's brief will be to establish an American Depository Receipt program for Autogen and to advise it in relation to listing on Nasdaq.

Collier said the company had not decided the time line for the listing, saying the move would depend on the level of interest generated in the company.

"The initial step is to raise our profile and get investor interest in what we're doing and see how quickly we can move forward from there," he said.

Autogen is currently working with Merck Lipha to develop its diabetes and obesity targets into pharmaceuticals and is allowing genetics company Sequenon use of its eXpress technology platform to functionally validate candidate disease gene targets.

The company has also established the Autogen Centre for Statistical Genetics in San Antonio, Texas, and has plans to set up an office in San Diego. Collier said the latest agreement would open up new sources of investment in US markets.

"Appointing Global Markets Capital is part of our strategy to raise awareness in Autogen's activities in the USA and will continue to strengthen our collaborations with the USA biotechnology industry," he said.

GMC president Mark Saunders said US investors had so far responded favourably to companies, like Autogen, which had with a strong interest in gene discovery.

"Autogen's research programs, including its work in the areas of obesity and diabetes, coupled with its existing collaborations with US institutions, will stand it in good stead in the US market," he said.