November 17, 2009
Starpharma Holdings Limited (SPL) said that it had raised $15.6 million through a private placement to various investors, including the lead investor Orbis. The placement was for 30 million shares at 52c per share, a 9.7% discount to the previous 20 days closing price. The placement was oversubscribed and managed by Shaw Corporate Finance, the company said. The funds raised would be used to finance a clinical trial program to develop VivaGel and to further strengthen the balance sheet for future development and partnering opportunities.
Mesoblast Limited (MSB) said that the first group of Patients who received a single injection of Revascor into damaged heart muscle had significantly improved cardiac function at both three and six months compared with baseline. The next group of 20 patients, set to receive the highest dose of Revascor, would be recruited by early 2010 the company added.
November 17, 2009
Medic Vision Limited (MVH) announced it has signed an agreement to acquire a further 9.29% of the share capital in Red Paragon Pty Limited from Neil Fleming. Medic Vision said the acquisition would be funded via the issue of fully paid ordinary shares in the company. Following the acquisition, the company said it would be the holder of 96.79% of all fully paid ordinary shares in Red Paragon and has a long term interest for it to be a wholly owned subsidiary.
November 12, 2009
Sonic Healthcare Limited (SHL) said that it had priced US$250 million of notes to 13 investors in the United States. Sonic said the funds would be used to repay existing bank debt and extend Sonic’s debt maturity profit. Under the arrangement there were two tranches, with one at seven years, at a fixed coupon of 5.23%. Another US$155 million was for 10 years, at a fixed coupon of 5.73%.
pSivida Corp. (PVA) reported a consolidated net loss of US$1.6 million for the quarter ended September 30, 2009, compared to a consolidated net loss of $471,000 for the quarter ended September 30, 2008. The drug delivery company said the recent result included a $1.5 million non-cash expense for the change in fair value of derivatives associated with the company’s outstanding warrants denominated in Australian dollars, compared to a $1.3 million impairment a year earlier. pSivida said revenues totaled $3.4 million for the September 2009 quarter compared to revenues of $2.8 million the previous corresponding period.
October 28, 2009
Ascent Pharmahealth Limited (APH), via its Australian generics business, Genepharm Limited has entered into a distribution and services agreement with Pfizer Australia Pty Limited to promote and sell the full range of Pfizer’s established off-patent medicines to Australian pharmacies. Under the agreement, Ascent said Genepharm would promote and distribute Pfizer’s off-patent branded medicines to pharmacies via Genepharm’s direct distribution and promote and sell a number of branded generics of Pfizer medicines, including established generic brand Xydep. The company said the Pfizer products would supplement Genepharm’s range of over 60 generic prescription medicines.
October 19, 2009
Cochlear Limited (COH) said today at its Annual General Meeting that despite global uncertainty, the outlook for the company was positive. The company said that it would release a range of new products in a market in which it already holds around a 70% market share. chairman Tommie Bergman told investors, “Record investments in research and development and ongoing investment in growth initiatives and internal capabilities will support Cochlear’s positive development.
October 19, 2009
Konekt Limited (KKT) reported a 16% jump in September quarter revenue versus the previous corresponding period (“pcp”) to $9.2 million. The provider of workplace health solutions expects its first half-year performance for the period ending December 2009 to be in the range of $17.5 million to $18 million in revenues and $1.1m to $1.3m in EBIT. Based on achieving these results, the company expects to deliver revenue growth of between 12% and 15% on the pcp and EBIT growth of between 110% to 150%. Konekt forecast full-year revenues to be in the range of $36m to $37m and EBIT to be in the range of $2.2m to $2.4m.
October 13, 2009
Sonic Healthcare Limited (SHL) said that it had been invited to offer services to Healthscope’s Labtests, DML following the 6 September 2009 transfer of the Auckland laboratory from Sonic to Labtests. The contract value is NZ$10.6 million ($8.6 million), representing 15.8% of the annual NZ$67 million contract originally awarded to Labtests. Sonic said the newly announced shared arrangement has been triggered by the need to relieve pressure on Labtests.
October 13, 2009
Sonic Healthcare Limited (SHL) said that it had been invited to offer services to Healthscope’s Labtests, DML following the 6 September 2009 transfer of the Auckland laboratory from Sonic to Labtests. The contract value is NZ$10.6 million ($8.6 million), representing 15.8% of the annual NZ$67 million contract originally awarded to Labtests. Sonic said the newly announced shared arrangement has been triggered by the need to relieve pressure on Labtests.
October 7, 2009
Sigma Pharmaceuticals Limited (SIP) said it fell short of the proposed $297 million it hoped to raise through an equity raising. The company made the announcement after completing the retail component, which saw over 50 million valid applications for shares representing around 32% of the total number of entitlements offered under the retail entitlement offer. Sigma said there was a shortfall of close to 110 million new shares not taken up under the retail entitlement offer.
October 6, 2009
Unilife Medical Solutions Limited (UNI) announced that it has been successful in obtaining commitments for a capital raising of $32.1 million. The safety medical device developer said it intends to use the proceeds raised from this placement and a share purchase plan to accelerate the expansion of its operational capabilities, production facilities and equipment requirements in the United States. The company said proceeds would also go towards the completion of the industrialisation of the Unilife Ready-to-Fill Syringe and to fast-track the commercialisation of additional pipeline products. Furthermore, Unilife said the proceeds would help ensure the company has adequate cash reserves leading up to, and following, its proposed redomiciliation in the United States and proposed listing on NASDAQ.