The trading halt will remain in place until the beginning of trading on April 17, 2019, or when an announcement is made to the market.
Admedus securities last traded at 6 cents.
Last week the company made further progress towards securing up to $18 million in funding for its immunotherapies business, Admedus Vaccines Pty Ltd.
The company entered into a share sale agreement with Constellation Therapeutics and other shareholders of Admedus Vaccines whereby Constellation would acquire all the shares of Admedus Vaccines.
On completion of the transaction:
Admedus Vaccines will be a wholly-owned subsidiary of Constellation;
The company will hold a 29.13% interest in Constellation through AIPL;
Other shareholders will hold a 10.8% stake in Constellation;
Sun Bright Holding will hold a 60% interest in Constellation;
Sun Bright will contribute up to $18 million to Admedus Vaccines over the period to November 2022 to meet ongoing funding requirements; and
Admedus chief executive Wayne Paterson will be appointed as the chairman of Constellation and Professor Ian Frazer will be appointed as a consultant to oversee the vaccine and immunotherapies development.