Actinogen Limited (ASX:ACW) is preparing to reveal details of an acquisition, along with a capital raising.
The ASX has granted the company a trading halt, with its shares placed in pre-open.
Currently, one of Actinogen's lead therapeutic programs is focused on discovering and developing drugs to treat brain cancer and potentially other oncological diseases by the targeted killing of cancer stem cells (CSCs).
In February the company entered into a research agreement with Curtin University to conduct further studies on the company’s CSC Project.
Cancer stem cells have been reported in many human tumours and are classified as a highly tumorigenic subpopulation that drives tumour formation, proliferation and metastasis.
CSCs share a variety of biological properties with normal stem cells such as capacity for self-renewal and propagation of differentiated progeny.
The company had $1.1 million in cash at the end of the June 2014.
The halt will remain in place until the opening of trade on Thursday 28th August 2014, or earlier if an announcement is made to the market.
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