ASX Health Stocks: Osteopore licenses its bone regeneration technology; Kazia resolves problem with Nasdaq
Health & Biotech
Health & Biotech
Link copied to
Regenerative implants specialist Osteopore (ASX:OSX) announced that it has signed a deal to license its bioactive technology designed to accelerate bone and tissue regeneration.
The non-binding deal was signed with Accelerate Technologies, under which both companies will aim to commercialise potentially ground-breaking materials designed to accelerate bone and tissue regeneration.
Both companies are now progressing towards negotiating and signing formal licensing agreements.
Accelerate Tech is the technology transfer arms of the Agency for Science, Technology and Research (A*STAR) – Singapore’s leading public sector R&D agency.
Since 2009, Osteopore and the Institute of Molecular and Cell Biology or IMCB (another A*STAR’s arm) ave been working together to incorporate these bioactive compounds (called PCL-TCP) into Osteopore’s implants.
Studies concluded that these compounds may have the potential to provide unprecedented clinical outcomes by significantly speeding up bone regeneration, leading to faster recovery times, reduced complications, and improved overall patient health.
The compounds have now reached a technology readiness level for human clinical trials. These trials will assess the safety, efficacy, and long-term benefits of the compounds in various medical applications
If the clinical trials yield positive results, this breakthrough could present Osteopore with additional commercial opportunities in a potential market worth US$420.5 billion (by 2025).
“We have been incredibly privileged to work alongside IMCB to incorporate these bioactive compounds into our implants, bringing about a potential paradigm shift in the field,” said Osteopore’s exec chairman, Mark Leong.
“As we commence clinical trials, we believe that the successful implementation of this technology will not only provide significant benefits to Osteopore, but also transform the way bone-related procedures are conducted.”
Oncology biotech Kazia Therapeutics (ASX:KZA) says that it has received notification from the Nasdaq that it has regained compliance with the minimum bid price requirement under Nasdaq listing rules.
Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of at least US$ 1.00 per share, and failure to do so for a period of 30 consecutive business days triggers a deficiency notice.
Under the rules, a company has 180 calendar days from the date of the notice to sort out the issue.
If at any time during this period the bid price of the company’s ADSs closes at or above US$ 1.00 per share for a minimum of 10 consecutive business days, the company will regain compliance with the minimum bid requirement.
On April 13, 2023, Kazia received written notification from Nasdaq that the company had regained compliance with Nasdaq Listing Rule because in the 10 consecutive business days – from March 29 to April 12 – the closing bid price of the company’s ADSs has been at $1.00 per share or greater.
Kazia has its American Depository Securities or ADS listed on the Nasdaq main board.
The company’s lead program is paxalisib, a brain-penetrant inhibitor of the PI3K/Akt/mTOR pathway, which is being developed to treat multiple forms of brain cancer.