Bioxyne, the parent company of Breathe Life Sciences (BLS), has raised A$1.45 million from investors as it looks to grow the business following the award of a Good Manufacturing Practice licence in February.
The ASX-listed company has issued 145 million shares to new and existing shareholders at $0.01c per share.
Chief executive Sam Watson said the additional capital will help expand manufacturing operations at its Brisbane facility.
“In the short period following the grant of our manufacturing licence we have added approximately $8m in new business to the sales pipeline,” he said.
Watson also flagged the opportunities provided by its amended wholesale licence that permit BLS to develop and promote access to MDMA and psilocybin finished products.
He said the upgraded licence was “another milestone” for the company, adding that the additional working capital “will accelerate our growth in this endeavour”.
Rua Bioscience
New Zealand-based Rua Bioscience is expanding its compassionate access program to include palliative care patients in Ruatorea and surrounding areas of the North Island’s east coast.
The company has been offering fully subsidised medication to those in the Tairawhiti region for two years, with support rising from 30 to 37 patients each month thanks to additional funding from Trust Tairawhiti and other organisations.
Chief executive Paul Naske said the scope, scale and reach of the program will now be extended to palliative care.
“This new initiative aims to provide fully subsidised, specialised support and care to people in their final stages of life,” he said. “Rua is deeply committed to making a positive impact on the community… and the compassionate access program is a key part of this mission, ensuring those in need have access to vital medications.”
Botanix Pharmaceuticals
Botanix Pharmaceuticals has been included in the ASX All Ordinaries Index of the 500 largest companies on the exchange following its strong share performance over the last 12 months.
Botanix attributed the result to interest in its treatment for excessive underarm sweating expected to receive approval from the US Food and Drug Administration in late June.
The company is targeting other indications with its synthetic CBD formulations including acne, rosacea and atopic dermatitis.
Melodiol Global Health
Melodiol Global Health reported unaudited revenue of $4.1 million in the first three months of FY24, up 79% on the same period last year.
The company said its Canada-based Mernova division contributed $1.7m, with Health House International generating $2.45m, including $647,000 from its UK operation.
The results provide a “strong foundation for the remainder of FY24”, the firm said.
Earlier this month Health House announced plans to open its first clinic during the second quarter of the year.
Zelira
Zelira Therapeutics has received a A$919,000 cash refund under the government’s R&D tax incentive scheme.
The funds will be used to progress the firm’s ongoing clinical and product development programs across current and pipeline products as well as for business operations.
Argent BioPharma
Argent BioPharma has appointed Dr Shlomo Sadoun to its advisory board.
Dr Sadoun co founded and leads SK-Pharma Group, a global pharmaceutical company operating in 18 countries and specialising in producing and marketing generic, speciality pharma, hybrid generics, and biosimilar pharmaceutical products.
He also serves as the CEO of Arphio, an orphan drug company utilising proprietary technology to promote, market, and sell orphan drugs worldwide.
