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Sunday, February 5, 2023

Malaysian biotech CytoMed Therapeutics information for $10M US IPO

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Malaysian biotech CytoMed Therapeutics (GDTC) has filed for a proposed $15M preliminary public providing.

CytoMed did not state in its submitting the quantity and value of the shares it intends to supply however did point out in an hooked up submitting price schedule that it was seeking to elevate round $15M.

The corporate hopes to listing its shares on Nasdaq below the image GDTC. The Benchmark Co. and Axiom Capital Administration are serving as lead bookrunners.

Integrated in Singapore, CytoMed conducts most of its operations in Malaysia. The corporate has been creating cell-based immunotherapies for treating most cancers. It hopes to make use of proceeds from the IPO to advance two lead drug candidates into Section 1 testing.

A pre-clinical stage firm, CytoMed is at present working within the pink. For the six-month interval ended June 30, CytoMed reported a web lack of $1M and no income.

For extra IPO Information, try SA’s IPO Information web page.

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