viewAgenix Limited

Agenix strengthens funding base with A$3M agreement


Agenix (ASX: AGX) has ensured it has a solid base of funding with a Continuous Investment Agreement with Baycrest Capital for the provision of up to $3 million over three years.

Baycrest Capital is a specialist fund that invests in high growth Australian public companies.

Importantly, the agreement is a good start at giving Agenix the resources to continue to deliver a number of important commercialisation milestones in 2013.

Under the agreement, Agenix has full control over the timing, price and number of shares Baycrest purchases.

Agenix is commercialising a revolutionary blood clot diagnostic called ThromboView, a human health point of care diagnostic platform called DiagnostIQ and a hepatitis B therapy, AGX-1009, for China.

ThromboView is ready to begin a phase three trial and is currently the subject of partnering and licensing discussions.

DiagnostIQ and AGX-1009 are also currently the subject of partnering and licensing discussions, and Agenix is preparing to file a CTA for a phase one study of AGX-1009 with the Chinese Food and Drug Administration in the first half of 2013.

Agenix plans to advance AGX-1009 into phase one trials in the first half of 2014.

Rights issue

Agenix previously announced it is also undertaking a non-renounceable rights issue to raise $1.235 million.

The offer comprises one new share for every one share held at $0.03 each, together with one free attaching option, exercisable at $0.05 and expiring on 30 June 2015, for every two shares purchased.

All members of the Agenix Board plan to take up their entitlements in the issue.

The rights issue closes on 20 February 2013.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Agenix Limited

Price: - -

Market: ASX
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



W Resources chairman at La Parrilla to update on grant funding and new loan

W Resources PLC's (LON:WRES) chairman Michael Masterman gives a progress report on developments at both its flagship project La Parrilla in Spain and Régua in northern Portugal. This week WRES announced its put in place a €5mln facility with Banco Santander. It's to allow them to monetise the...

3 hours, 39 minutes ago

2 min read