Novel heart valve development company Anteris Technologies (AVR: $20.00) has secured commitments to raise $40 million at $20 per share through a private placement.

Immuron (IMC: $0.075) has reported a record $1.5 million in sales in the September quarter for its Travelan product used to prevent travelers' diarrhea.

Aroa Biosurgery (ARX: $0.79), a wound-healing products company, continues its resilient performance with a 35% increase in cash receipts during the September quarter compared to the PCP. Total revenue during the September quarter was NZ$14.8 million.

–3 November 2023–

Neuren  Pharmaceuticals' (NEU: $11.29) partner Acadia Pharmaceuticals has reported a strong second quarter of sales of its drug DAYBUE for Rett syndrome after having been launched in the US in April this year.

Over the next 12-24 months a number of companies in the sector may receive acquisition bids. The last company to be acquired was ResApp Health for $180 million by Pfizer in 2022. Three companies viewed as potential targets by Bioshares are discussed below.

Dimerix (DXB: $0.16) has signed a licensing deal for its lead compound, DMX-200, with Advanz Pharma. The deal gives Advanz rights to the use of DMX-200 for the treatment of FSGS (Focal Segmental Glomerulosclerosis) in Europe, the UK, Canada, Australia and New Zealand.

Over the next 12-24 months a number of companies in the sector may receive acquisition bids. The last company to be acquired was ResApp Health for $180 million by Pfizer in 2022. Three companies viewed as potential targets by Bioshares are discussed below.

Not surprisingly, Pharmaxis (PXS: $0.035) will sell off its mannitol drug business. The acquiror is Australian-based Arna Pharma.

Two highly successful life science companies that have emerged in the last decade in Australia are Clinuvel Pharmaceuticals (CUV: $15.64) and Nanosonics (NAN: $4.37). Whilst one is a pharmaceutical company and the other sells medical products (the Trophon disinfection instrument for ultrasound probes), there are several commonalities between the two businesses which make a comparison worthwhile.

By most measures, except for net profit, Polynovo (PNV: $1.28) has delivered an exceptionally strong year in FY2023. Revenue has increased by 59% to $66.5 million, the numbers of hospitals/customers has increased by 168 to 638, and its staff numbers have also surged by 66 to 218.