Phylogica IPO closes oversubscribed
Thursday, 24 March, 2005
Perth-based functional proteomics company Phylogica has closed its IPO after raising $5 million through the sale of 25 million shares at $0.20.
Although the IPO was heavily oversubscribed, no oversubscriptions were accepted.
Major investors in the float include listed investment group Biotech Capital (ASX:BTC) and the Australian Heritage Group. Azure Capital managed the IPO.
The company was spun out of the Telethon Institute for Child Health Research to commercialise technology developed by researchers at the institute and their collaborators at Fox Chase Cancer Center in the US.
The company is expected to float on the ASX at 10:30am on March 30, 2005, using the code PYC.
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