Medlab Clinical heads for Nasdaq listing and land of opportunity
Health & Biotech
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Medlab Clinical has laid out its road map to a dual listing on the Nasdaq to help open up greater access to capital pools and strengthen its position as an advanced biotech in the world’s largest market.
The Australian biotech, which specialises in some pretty amazing nano-particle technology to deliver and enhance medical outcomes, on Thursday morning revealed it’s dual-listing ambitions setting down an extraordinary general meeting for July 28 to recommend the move to Medlab Clinical (ASX:MDC) shareholders.
Medlab has been looking to the biotech’s global future, concluding the tech-heavy Nasdaq and its capacity to attract capital and open up the US market is the way to go.
The MDC board believes a dual listing is in the best interests of the company and shareholders, providing deeper access to sophisticated investors, specialised biotechnology, and healthcare funds.
In a release to the ASX, the company said a Nasdaq listing will further position Medlab as an advanced biotech deep inside the world’s largest market.
There’s little doubt life on the world’s most fascinating index will deliver vastly broader reach and massively improved optics for Medlab’s ambitious overseas business development and licencing activities.
With a significant footprint already in the US, Medlab said it will provide a significant capital boost for research programs and FDA applications.
“From an operational perspective the company is already heavily US focused with development, manufacturing, and regulatory activities presently in place,” the company said.
“Considering the size of the US financial and commercial markets, the glaring opioid problem in the region and increasing negative mental health statistics, the board believes Medlab’s requirements, offering and vision are all appropriately met and will be well received in the US.”
The company and its executive team will not be relocating and plan to remain based in Australia for the foreseeable future.
“Medlab Clinical will continue to trade on the ASX and all existing shareholders will be able to remain active on the ASX or Nasdaq according to their choice,” the company said.
Researchers from the School of Pharmacy and Medical Sciences have independently confirmed that NanaBis has two times more bioavailability than an Australian Register of Therapeutic Goods (ART) approved oral cannabis (CBD and THC) medicine.
This article was developed in collaboration with Medlab Clinical, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.