Cellmid announces Share Purchase Plan completion and in-store launch of évolis® in USA
SYDNEY, 3 September 2018: Cellmid Limited (ASX:CDY) (the Company) today advised that the Share Purchase Plan ("SPP") announced on 31 July 2018 with an offer price of $0.38 has now closed.
The Company received applications to the value of $1,025,000 for the issuing of 2,697377 shares, which is $25,000 over the maximum $1 million originally determined by the Board. The Board has approved the oversubscription and there will be no scale back of applications.
"We thank all participating shareholders and new investors for their support in the capital raising as we continue to advance distribution opportunities for our portfolio of high growth anti-aging consumer health products in major global markets" said Cellmid CEO, Maria Halasz.
Read the full announcement here
Today's announcement comes after the Company, last week, announced the in-store launch of the évolis® Professional product range, ahead of schedule, in Neiman Marcus and Soft Surroundings stores across the USA.
As part of the launch, a series of experiential marketing events will be held from 31 August until 15 October in flagship Neiman Marcus stores in Hawaii (Ala Moana), California (Fashion Island), Florida (Orlando) and Texas (Northpark and Houston). Similar events will be held in 11 Soft Surroundings stores, from Arizona to Texas, during the same period.
Read the full announcement here
Contact:
Company
Maria Halasz, CEO
Cellmid
T: +612 9221 6830
Investor Relations
Kyahn Williamson
WE Buchan
T: +61 401 018 828
E: kwilliamson@we-buchan.com
Media
Gabriela Czwarnos
WE Buchan
T: 0450 396 290
E: gczwarnos@we-buchan.com
Cellmid Limited (ASX: CDY)
Cellmid is an Australian life sciences company with lead programs in multiple disease indications. The Company, through its wholly owned subsidiaries, Lyramid, Kinera and Advangen, develops and markets innovative novel therapies and diagnostic tests for fibrotic diseases, cancer, ischemic diseases of the heart and hair loss. Cellmid holds the largest and most comprehensive portfolio of intellectual property relating to the novel targets midkine (MK) and FGF5 globally. Intellectual property pertaining to midkine is being exploited through wholly owned subsidiaries Lyramid and Kinera. Advangen, Cellmid’s consumer health business, sells its FGF5 inhibitor hair growth products in Australia and Japan, and currently expanding distribution in other territories. For further information, please see www.cellmid.com.au and www.evolisproducts.com.au.
Advangen Limited and hair growth products
Advangen Limited is Cellmid’s wholly owned subsidiary engaged in the development and sale of anti-aging hair care products. Advangen has a range of FGF5 inhibitor hair growth products which are sold in Australia and Japan with a USA launch currently ongoing. Advangen has a rich portfolio of hair growth and anti-aging hair care assets which include formulations of products on market, trademarks, patents and patent applications, proprietary assays and manufacturing processes.
Midkine (MK)
Midkine is a growth factor that is highly expressed during embryonic development. Midkine modulates many important biological interactions such as cell growth, cell migration and cellular adherence. These functions are relevant to cancer, inflammation, autoimmunity, ischemia, nerve growth/repair and wound healing. Midkine is barely detectable in healthy adults and only occurs as a consequence of the pathogenesis of a number of different disorders. Midkine expression is often evident very early in disease onset, even before any apparent physical symptoms. Accordingly, midkine is an important early marker for diagnosing cancers and autoimmune diseases. Finally, midkine is only evident in a disease context, and targeting midkine is not expected to harm normal healthy tissues.
Investment in life sciences companies
There are a number of inherent risks associated with the research, development and commercialisation of pharmaceutical products. Investment in companies specialising in these activities carry specific risks which are different to those associated with trading and manufacturing businesses. As such, these companies should be regarded as highly speculative. Cellmid recommends that investors seek professional advice before making an investment in its shares.
[i]Journal of Cosmetic Dermatology 2014; 13 (4): 277-287, “Anti-aging and filling efficacy of six types hyaluronic acid based dermo-cosmetic treatment”
[ii] Euromonitor 2017