• Imricor jumps 13pc after securing $30m in funding
  • Singular Health signs a master distribution agreement in the US
  • Louie the Beagle has passed the 1-year mark taking PharmAust’s Monepantel

Imricor jumps 13pc on funding deal

Imricor Medical Systems (ASX: IMR) jumped 13% this morning after announcing that it has secured $30m through an equity funding facility from Gem Global Yield (GGY).

The deal will provide funding for Imricor over the next 36 months.

As part of the transaction, Imricor will issue GGY 5.7 million three-year call options with an exercise price of $0.61. (IMR stock is currently trading at $0.42).

Imricor will also pay a fee of $600,000 to GGY in connection with the agreement, which could be paid in part with CDIs (CHESS Depository Interests).

Imricor’s chair and CEO, Steve Wedan, said the funding will bolster IMR’s balance sheet as the company expands into North Dakota, US.

“This agreement … provides the company and CDI holders the security of knowing Imricor will have the required capital to execute our VISABL-AFL trial to support FDA approval of our products in the US, and the VISABL-VT trial to support expanded indications to treat ventricular tachycardia in Europe.”

Imricor says it is the first company in the world to bring commercially viable and safe MRI-compatible products to the cardiac catheter ablation market.

 

Key deals signed by Singular Health and INOVIQ

Meanwhile, Singular Health (ASX:SHG) rose 5% after announcing the execution of a Master Distribution Agreement for its 3Dicom software in the US with Charlie Golf One Solutions LLC.

The South Florida-based Charlie Golf has previously deployed augmented reality (AR), virtual reality (VR) and mobile applications in the defence and healthcare markets.

The company also has a proven record in commercialising software applications, and have established a large network of partner organisations operating in federal government and commercial sectors.

The team at Charlie Golf will now try to market Singular Health’s existing 3Dicom software in the US market.

Meanwhile, INOVIQ (ASX:IIQ) has signed a deal with Promega, a global leader in innovative technologies supporting the life sciences industry.

The deal will see INOVIQ and Promega co-market INOVIQ’s EXO-NET exosome capture technology and Promega Nucleic Acid purification systems worldwide.

Under the agreement, global customers will be offered a wide range of Promega manual and automated nucleic acid extraction reagents and instruments combined with INOVIQ’s EXO-NET exosome capture tools to enable their exosome isolation, biomarker discovery and diagnostics research.

 

PharmAust’s Monepantel effective on Louie the Beagle

Louie the Beagle, a canine patient in PharmAust’s (ASX:PAA) Phase 2 trial for the treatment of canine B-cell Lymphoma with Monepantel (MPL), has surpassed the one-year mark.

The 13-year old Louie has surpassed 365 days as a result of being treated solely with MPL, and showing no side effects while his Quality of Life (QoL) remains excellent.

Louie was diagnosed with Progressive Disease (PD) at the end of his 28-day trial and despite this poor prognosis, Louie has achieved >365 days of good quality of life.

Thus, it appears that dogs given MPL + prednisolone (or, in Louie’s case, MPL on its own) after the 28-day trial period are living three times longer than expected with good quality of life and no chemotherapy-related side effects.

MPL is already approved for veterinary use for a different indication in food-chain animals. PharmAust is endeavouring to repurpose MPL as a safe and effective cancer treatment without the associated side effects of chemotherapy.

 

Incannex granted ethics approval

Meanwhile, Incannex Healthcare (ASX:IHL) has received approval from Bellberry Human Research Ethics Committee to commence the bioavailability/bioequivalence (BA/BE) clinical trial to assess the pharmacokinetics and tolerability of IHL-42X.

The trial will include 116 participants at CMAX Clinical Research in South Australia, and will be managed by Novotech.

Data from the clinical trial will be a critical component of future marketing submissions for IHL42X for treatment of OSA (Obstructive Sleep Apnoea).

The trial will be conducted in parallel to the IND opening and the pivotal Phase 2/3 clinical trial.

The design of the BA/BE trial is consistent with FDA recommendations as part of the required research required to undertake a new drug application.

 

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