Emerging regional fibrosis and inflammation company Pharmaxis (ASX:PXS) has received a change in holding from substantial shareholder BVF Partners.
The fund manager lifted its stake in the company through on-market purchases to 13% from 12%, and has continued adding to its stake since acquiring an initial substantial shareholding on 1st June 2015.
BVF is a private investment partnership based in San Francisco with a focus of investing in small-cap biotechnology companies for more than two decades.
Pharmaxis is a research-based specialist pharmaceutical company with a portfolio of products at various stages of development and approval.
Recently Boehringer Ingelheim exercised its option and acquired Pharmaxis' investigational drug PXS4728A, to develop it for the treatment of the liver-related condition NASH and to prevent its consequences.
Pharmaxis is a well-funded company with $54 million in cash at the end of June 2015.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.