Australia Biotech Hopeful Avexa Limited (AVX.AX) Debuts After Spinoff 
10/19/2005 5:11:33 PM

Australian biotechnology company Avexa Ltd. (AVX.AU) debuted on the local stock exchange Thursday after Amrad Corp. (AML.AU) spun off its antiviral business into the new entity. Avexa, which is researching treatments for life-threatening illnesses such as HIV/AIDS and hepatitis B, opened at 28.5 cents, giving the company a market value of A$24.1 million.