ASX Health: Twiggy Forrest’s investment fund takes a stake in this ASX cannabis stock
Health & Biotech
Health & Biotech
Link copied to
The ASX 200 Health Index (XHJ) is down by 0.35% at the time of writing, compared to the broader index which is down by 0.80%.
A private fund owned by the Forrest family, Tattarang, has invested $5m or 7.3% stake in cannabis company, Emyria Limited (ASX:EMD).
The share placement to Tattarang represents a strategic move for Emyria, with funds expected to be used to accelerate synthetic cannabinoid registration programs with the TGA and FDA, the company said.
The fresh funds will also advance Emyria’s novel MDMA-analogue development program with the University of Western Australia.
The EMD stock price jumped 12% on the news.
Meanwhile, Anteris Technologies (ASX:AVR) surged by 20% after announcing that it has implanted five TAVR patients in a first-in-human study to assess the DurAVR THV system.
The TAVR (transcatheter aortic valve replacement) procedure replaces a diseased aortic valve with a man-made valve.
Anteris’ DurAVR THV system is used to treat severe aortic stenosis (narrowing of the valve in the large blood vessel).
It’s also said to create a wider valve opening and better blood flow, and also requires fewer stitches.
“These first five patients go a long way in proving the unique benefits of the DurAVR valve, and validating the prior preclinical work, with results so far better than anticipated,” says CEO Wayne Paterson.
The company has reported a breakthrough in its human heart therapy drug, Zantrene.
Zantrene has been shown to synergise with existing anthracyclines to better kill breast cancer cells.
This discovery will be fast-tracked to the clinic with a Phase 2b trial planned for 2022, RAC said.
The reproduction biotech company has announced the maiden sale of the Felix device to Chinese distributor, Diagens Biotechnology.
The Felix is an automated device for quickly and gently separating high quality sperm from a sample, for use in human IVF procedures.
The first order from Diagens is valued at only $11,000, but it gives Memphasys a foot in the door in what is a huge addressable market, the company said.
Memphasys said the broader reproduction market in China is currently around $1bn, and is expected to reach $2.7 billion by 2026.
HitIQ Limited (ASX:HIQ) unchanged
The concussion management tech has confirmed its strategic acquisition of CSX, a NZ-based company in concussion assessment technology that supplies to well established customers globally.
The acquisition price $857k in cash, with a further $250k cash to be paid within 18 months of acquisition.
HitIQ says the acquisition is part of its growth plan, and will fast-track the company’s technology platform development.