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  • Cellmid Limited Looks To Add To Cash Balances 0 comments
    Mar 10, 2013 8:20 PM

    Australian biotech company Cellmid Limited (ASX: CDY) recently sealed a key midkine diagnostic deal with Japan's Fujikura Kasei Co (TYO: 4620), a major supplier of latex particles used in medical diagnostics.

    Today Cellmid has been granted a trading halt by the ASX pending capital raising details, with its shares in pre-open.

    Significantly, the partnership is a logical fit as Fujikura considers midkine an important part of the commercial expansion of its medical diagnostic business.

    Under the terms of the option to licence agreement, Cellmid will supply its anti-midkine diagnostic antibodies for validation on Fujikura's latex platform.

    Midkine has been extensively validated as an early marker for a range of cancers and has also been shown to be useful in prognosis and disease management.

    The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 13th March 2013.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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