Chemeq banks $40m

By Staff Writers
Tuesday, 05 April, 2005

Beleaguered biotech Chemeq (ASX:CMQ) has seen some light on the horizon, announcing it has successfully banked AUD$40 million from an issue of 40,000 convertible bonds to Japanese investment group Mizuho International and related entities of investment management group Stark Investments.

Mizuho has also committed to underwriting an additional $20 million investment by the two companies if Chemeq options due to expire in June do not generate additional capital, bringing the total package to $60 million. The package was approved by Chemeq shareholders at a general meeting late last month.

The company has also announced it has secured patent protection in China until 2020 for its polymeric antimicrobial, and named Brian Mangano as its new CFO.

Related News

'Low-risk' antibiotic linked to rise of dangerous superbug

A new study has challenged the long-held belief that rifaximin — commonly prescribed to...

Robotic hand helps cultivate baby corals for reef restoration

The soft robotic hand could revolutionise the delicate, labour-intensive process of cultivating...

Stem cell experiments conducted in space

Scientists are one step closer to manufacturing stem cells in space — which could speed up...


  • All content Copyright © 2024 Westwick-Farrow Pty Ltd