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AGENIX LIMITED : Quarterly Update & Appendix 4C
4-traders - Apr 30, 2012 BY E-LODGEMENT The attached Appendix 4C lodged today should be read in the context of the following information. This update provides a summary of the Company's financial position and progress made towards achieving our long-term commercial objective ...
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AGENIX LIMITED : Funding Agreement Provides Certainty
4-traders - Apr 23, 2012 ASX Announcement Funding Agreement Provides Certainty MELBOURNE, Australia, 23 April 2012: Drug and development company Agenix Limited (ASX: AGX) today confirmed it has entered into an agreement with Fortrend Securities, in its own capacity and as ...
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Company Profile
Agenix Limited was listed on the Australian Stock Exchange in October 1987, de-listed for a while and re-listed in September 2010. Today's two primary businesses consist of AGEN Biomedical (headquartered in Melbourne, Australia) and Agenix Bio-Pharma Shanghai, in The People's Republic of China.
Business Units
In Biopharmaceuticals, Agenix has ‘in principal’ rights to clinically develop a pipeline of proprietary Hepatitis B therapies for commercialisation in China. Through its wholly owned subsidiary, Agenix Biopharmaceutical (Shanghai), established in 2007, the company has established a collaboration with the Institute of Medicinal Biotechnology (IMB) of the Chinese Academy of Medical Sciences in Beijing to develop and commercialise a patented prodrug analog of an existing compound for the treatment of chronic HBV in China.
In Medical Diagnostics, the company’s lead indicator is a patented monoclonal antibody diagnostic called Thromboview® that, detects live blood clots (DVT and PE) in the human body. ThromboView® has successfully completed two FDA Phase II human clinical trials in the United States. The company is positioning Thromboview® as an innovative diagnostic (a ‘theranostic’) to support the use of developed biopharmaceuticals and is seeking a development partner in China to commercialise the indicator.
Finances
Agenix in late February 2011 welcomed new institutional and retail investors who participated in the company’s equity raising which raised in the order of $2.4m. Proceeds will be used to further its clinical development program and partnering of its product portfolio.
Agenix Executive Chairman, Nick Weston said: “We are delighted to welcome our new investors. It is a vote of confidence in our strategy to transform Agenix and capture opportunities in global pharmaceutical markets.”
Prior to the fund raising in early 2011 the company had approx. $3.98M in cash. The loss after tax in the half year June to December 2010 was $1,750,289
