By Devika Patel
Knoxville, Tenn., Aug. 25 - Proteome Systems Ltd. said it pocketed A$2.5 million in a private placement of shares.
The company sold 23,809,524 shares at A$0.105 per share.
Proceeds will be used to maintain development timelines for the company's two lead diagnostic programs: a rapid point-of-care test for tuberculosis and an onsite test for determining wheat quality and thus pricing.
Proteome, based in Sydney, Australia, is a biotechnology company focused on protein and glycoprotein markers.
| Issuer: | Proteome Systems Ltd.
|
| Issue: | Shares
|
| Amount: | A$2.5 million
|
| Shares: | 23,809,524
|
| Price: | A$0.105
|
| Warrants: | No
|
| Pricing date: | Aug. 25
|
| Stock symbol: | Australia: PXL
|
| Stock price: | A$0.11 at close Aug. 25
|
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