An announcement is pending in relation to an extension of Medlab’s NanoCelle™ platform to anti-malaria drugs.
() is in a trading halt with an announcement pending in relation to the extension of its NanoCelle™ platform to anti-malaria drugs as part of COVID-19 research.
Securities will remain halted until the earlier of the start of normal ASX trading on Tuesday, April 21, 2020, or when the announcement is released to the market.
The company, which has a market capitalisation of approximately $49 million, traded at 22 cents before the halt, up almost 5% on Thursday's close.
FeverMates agreement
Earlier this month, Medlab executed a Heads of Agreement with Randall Communications Pty Ltd, trading as FeverMates, to expand its nutraceutical business in new foreign and domestic territories.
FeverMates is best known for the global distribution of fever management and prevention products including stick-on thermometers, hand sanitisers and medical face masks.
Medlab chief executive officer Dr Sean Hall said: “The Randall Communications deal opens up international trade for MDC beyond our internal scope.
“FeverMates is a great established brand and we are honoured to work with them.”
This arrangement will expand MDC’s nutraceutical business to take advantage of new foreign and domestic opportunities and will licence several of its existing nutraceuticals.
The agreement allows both companies to negotiate the financial and commercial terms to be included in a definitive commercial agreement specifying products, territories and market channels.
