logo-loader

Medlab Clinical has upcoming news of possible NanoCelle™ extension for COVID-19 research

Published: 16:14 17 Apr 2020 AEST

A trading halt has been granted until April 21 or when an announcement is released
A trading halt has been granted until April 21 or when an announcement is released

Medlab Clinical Ltd (ASX:MDC) 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.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

12 hours, 4 minutes ago