Agenix secures $3 Million Continuous Investment Agreement
Agenix Secures $3 Million Continuous Investment Agreement
MELBOURNE, Australia 31 January 2013: Diagnostic and drug development company Agenix Limited (ASX: AGX) today announced it had entered into a Continuous Investment Agreement with Baycrest Capital LLC for the provision of up to $3 million over three years.
Baycrest Capital is a specialist fund that invests in high growth Australian public companies.
Agenix has full control over the timing, price and number of shares Baycrest purchases.
Agenix Executive Chairman and Chief Executive Officer Nick Weston said, “This agreement
provides a solid base of funding for Agenix. We welcome Baycrest as a shareholder and its
confidence in management’s strategy to create long-term shareholder value. The agreement
is a good start at giving Agenix the resources to continue to deliver a number of important commercialisation milestones in 2013.”
Agenix is commercialising a revolutionary blood clot diagnostic called ThromboView, a human health point of care diagnostic platform called DiagnostIQ and a hepatitis B therapy for China.
The agreement follows announcement on 21 January 2013 of the opening of a nonrenounceable rights issue for shareholders on 5 February 2013 with a closing date of 20 February 2013. All members of the Agenix Board plan to take up their entitlements in the issue. If fully subscribed, the offer will raise $1.235 million.