Medlab proposes DUAL LISTING to the U.S. Nasdaq Stock Market
DATE: Wednesday 29th June 2022
Medlab Clinical Ltd (ASX:MDC) welcomes all shareholders to exercise their voting rights at Extraordinary General Meeting scheduled for 28th July 2022.
NSW, AUSTRALIA, JUNE 30, 2022 – Pending shareholder approval, Medlab Clinical is intending to dual list on the U.S. Nasdaq stock market.
In connection with the dual listing, Medlab is seeking shareholder approval on two important resolutions:
- The first resolution regards a consolidation of share capital.
- The second resolution regards a placement of Shares under a NASDAQ initial public offering
Medlab chief executive officer Dr Sean Hall said the decision was motivated by “a growing interest among investors and corporations in both cannabinoid-based pharmaceuticals and biotech ventures in the United States”.
In the U.S., there is a growing interest and need for innovative biotech companies, creating a huge opportunity for Medlab and our NanoCelle® technology.
“The capabilities of NanoCelle® continue to evolve, adding to the commercial reality of the delivery platform and opening doors to potential partnering opportunities inclusive of new medicines, repurposed generic or existing branded medicines”, says Medlab CEO Dr. Sean Hall. “Our aim is to continue to develop NanoCelle® for a wide range of compounds to provide ongoing revenue from partnering engagements.”
As a biotechnology company, Medlab’s primary focus is centred around the use of delivery platform technologies for drug improvements in the areas of pain and mental health with recent progression including:
- Significant progression with lead drug candidates NanaBis™ (target indication of cancer bone pain) and NanoCBDTM (target indication of stress) in preparation for regulatory submissions.
- Plans for submission to the U.S. FDA as part of the final progression towards Phase III trial commencement for NanaBis™ and ultimately a near future application for a new drug.
- Independent research from researchers at the School of Pharmacy and Medical Sciences at University of South Australia confirming that NanaBis™ has double the bioavailability over an ARTG (Australian Register of Therapeutic Goods) approved oral cannabinoid medicine.
- MDC2000 program to combine an optimised molecule with an existing FDA DMF with our proprietary NanoCelle® platform and pursue an FDA 505(b)(2) (aka accelerated or abbreviated) pathway for a new, enhanced anti-depression drug.
- NanoCelle patents granted until 2036 across key markets inclusive of Europe, Canada, USA and Australia
- Several commercial deals signed.
About the author
Medlab in-house Editor.