Home » Australian Biotech Apollo Closes IPO Early
Australian Biotech Apollo Closes IPO Early
June 27, 2005
Apollo offered 19 million shares at 50 cents each and expects to list on the Australian Stock Exchange on June 29 with a market capitalisation of A$76.6 million. The company is targeting markets to treat inflammatory diseases, like rheumatoid arthritis, and anti-ageing cosmetics and plans to use funds raised in the float to test its proteins in the lab and run clinical trials of its psoriasis treatment. "Professional investors have focused on Apollo's substantial opportunities for early sales to scientific researchers worldwide," Blackwood Capital director Stuart Richardson said in a statement.
Yahoo News (http://au.biz.yahoo.com/050615/19/4reu.html)
KEYWORDS Daily International Pharma Alert
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