Cyclopharm (ASX: CYC) has been granted a trading halt from the ASX pending news of an entitlement offer.
The company has plans to establish operations in Queensland after entering into a tripartite agreement with Queensland’s Mater Misericordiae Health Services group and Queensland X-Ray, a wholly owned subsidiary of Sonic Healthcare.
The agreement will see the establishment of a cyclotron manufacturing facility at the Mater Hospital located in South Brisbane by 2014.
The facility will produce pharmaceuticals used in Positron Emission Tomography.
The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Friday 9 November 2012.
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