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ASX Biotech Stocks: Estia picks up 4 new aged care homes; MGC flags positive result for long COVID symptoms
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- Estia is acquiring four aged care homes from Premier Health Care Group in SA and QLD
- MGC Pharma flags positive results from ArtemiC study into long COVID symptoms
- Prescient to recruit cutaneous T cell lymphomas (CTCL) patients for PTX-100 study
Aged care provider Estia Health (ASX:EHE) has picked up Premier Health Care Group’s four operational aged care homes – two in South Australia and two in South East Queensland – for $62m, plus two Adelaide development sites for another $10m.
The company says the homes are within Estia Health’s existing operating clusters and adds 409 resident places and the two development sites could deliver a further 160-179 places.
Estia Health CEO, Sean Bilton said:
“These homes are of the highest quality and provide us with the opportunity to apply our proven commissioning skills in finalising their ramp-up.
“The homes are aligned to our existing successful operating clusters and have demonstrated strong occupancy and operating performance, despite the huge challenges arising from COVID-19.”
The acquisitions expected to be earnings per share (EPS) accretive from H2 FY23.
EHE share price today:
The company has reported the results from its clinical study, sponsored by Swiss Pharmacan AG, conducted on a white-label version of MGC Pharma ArtemiC Support to assess its impact on patients suffering from Long-COVID.
A total of 60 COVID vaccinated patients suffering from Long-COVID were observed in clinics across Spain whilst administered the study product twice a day for six weeks.
And the results indicate that the product may be effective in treating the symptoms of Long-COVID like sleep disorders, headache, depression, pain, mobility, intestinal problems and mental confusion.
“That the product could help to explain changes in the symptoms of Long-COVID patients is an extremely promising development for the company, with significant potential commercial developments we hope to explore further through future studies,” co-founder and MD Roby Zomer said.
PRESCIENT THERAPEUTICS (ASX:PTX)
The company says its PTX-100 Phase 1b expansion cohort in relapsed and refractory T cell lymphomas (TCL) continues to exhibit an excellent safety profile at the highest dose of 2000 mg/m2.
Plus, the treatment continues to show “encouraging” clinical activity in a difficult to treat patient population, including a striking response in a patient with refractory cutaneous TCL (CTCL).
In light of these responses in CTCL in particular, Prescient has amended the study protocol to accommodate the recruitment of additional CTCL patients.
4DMedical has today released its breakthrough image processing software – called Computed Tomography Lung Ventilation Analysis Software (CT LVASTM) – in Australia.
CT LVASTM provides an almost identical report to 4DMedical’s XV LVAS product but utilises widely available Computed Tomography (CT) imaging infrastructure (instead of X-ray equipment), providing clinicians and patients with the benefits of XV Technology.
As an added bonus, CT LVASTM uses existing CT hardware and has easy integration into clinical workflows across the I-MED network – which 4DS says represents a significant opportunity to drive revenue for the company, as it creates a framework for the rapid commercialisation of the CT LVASTM product in Australia.
MXC, PTX and 4DS share prices today:
Optiscan Imaging has entered into a binding terms sheet (with MD Prof Camile Farah), to acquire intellectual property in the form of clinical and histopathological datasets.
The company plans use the data for image analysis and the creation of artificial intelligence (AI) algorithms for development of computer assisted diagnostics.
Consideration is 6 million fully paid ordinary shares in the company, with the acquisition to be subject to shareholder approval at the company’s upcoming annual general meeting to be held on Thursday 24 November 2022.
EMV was awarded $5 million under the Federal Government’s Modern Manufacturing Initiative Medical Products Manufacturing Translation Stream to establish a commercial production of EMVision’s 1st Gen portable brain scanner product.
After an initial upfront $2 million payment, subsequent payments are subject to satisfactory progress on the project.
The company has launched an SPP to contribute to its strategic investment in expanding GMP manufacturing capabilities at Mildura.
Cann says this is in preparation for the scaling up of production which is needed to respond to the expected significant demand for Satipharm products, including over-the-counter CBD products once they become available as registered S3 medicines.
Funds will also be used to assist with working capital over the medium term, while the company pursues both the scale-up of manufacturing capability and the preparation and submission of a registration dossier.
OIL, EMV and CAN share prices today:
At Stockhead we tell it like it is. While Prescient Therapeutics is a Stockhead advertiser, it did not sponsor this article.
