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Market Information

3rd November 2020

Wednesday, November 04, 2020
Company: Pharmaxis (ASX: PXS)
Sector : Pharmaceutical
Type: Investor Centre
Description: Pharmaxis (ASX:PXS) announced the United States Food and Drug Administration (FDA) has approved Bronchitol® (mannitol) as add-on maintenance therapy to improve pulmonary function in cystic fibrosis (CF) patients 18 years of age and older. The product, developed by Pharmaxis in Australia, has been steered through final stages of FDA approval by US licensee Chiesi Farmaceutici SpA (Chiesi).

A US$7 million milestone is now payable to Pharmaxis by Chiesi with a further US$3 million payable on shipment by Pharmaxis of commercial launch stock scheduled for the first quarter of 2021.

Pharmaxis also announced details of the clinical development plan for its lead drug pipeline asset being studied for the bone marrow cancer myelofibrosis.

PXS-5505 has already received IND approval and Orphan Drug Designation from the FDA and will proceed to an open label study recruiting up to 42 patients with myelofibrosis in Australia and international sites. PXS-5505 is a pan-LOX inhibitor that seeks to reverse the bone marrow fibrosis that drives morbidity and mortality in the disease.

PrimaryMarkets now operates an Investor Centre for Pharmaxis, a dedicated online Platform to support investor awareness and market eduction.

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Property Fund
Company: Pallas Capital
Sector : Property
Type: Secured Bond
Description: Pallas Capital is a specialist commercial real estate financier and investment manager and a wholly owned subsidiary of Pallas Group. Established in 2016, Pallas specialises in the provision of structured debt and equity products to well-seasoned Australian real estate asset owners and developers, providing excellent risk adjusted returns to its investor base.

Pallas Capital employs 18 dedicated real estate professional staff across its Sydney and Melbourne offices.

Pallas has an impeccable track record providing in excess of A$415m total investments since inception across 73 debt and equity transactions (55 debt) and a range of real estate sectors, currently totalling in excess of A$260million in single asset and diversified trusts Funds Under Management (FUM) as at 30 September 2020. Of those 73 transactions, 39 are first mortgages that have delivered an average net return of 9.4% pa.

Pallas Capital is raising up to A$100m; initial issue c.A$30m. A fixed coupon of 7.5% p.a. is payable over a 4 year term in denominations of A$10,000.

Capital Raise
Company: GMDx Genomics
Sector : Genome Healthcare
Type: Primary Equity Raise
Business Update: GMDx is well advanced in a current study with The CRC for Mental Health (which includes The Florey Institute, The CSIRO and several others) regarding the early detection of Alzheimer’s disease. This study has been undertaken in order to validate an important GMDx genomic application and build on the very successful proof of concept completed by GMDx in 2019 in this area. This study is expected to be completed prior to the end of 2020.

The first GMDx patent application in relation to cognitive impairment (including Alzheimer’s and other neurodegenerative disorders) was lodged by the company in 2019.

In additional to the current research and development for genomic applications in Cognitive Impairment and Oncology, GMDx has now partnered with Oracle to provide Genomic Data Services to the wider market. This undertaking will provide GMDx customers and collaborators with access to a new generation of genomic analytics to enhance research and development capabilities, drug discovery and development and clinical trials.

Description: GMDx is a genomics testing company that delivers the next generation of immunogenomic diagnostics in oncology. GMDx was established in 2015 to further develop and commercialise the discoveries of Dr Robyn Lindley. GMDx has developed a comprehensive and powerful genomic-profile testing platform with the clinical applications in oncology for:
  • predicting patient response to immunotherapy treatment and
  • predicting cancer progression.

The GMDx platform technology combines proprietary predictive algorithms, a strong and extensive IP portfolio, sophisticated analytics and machine learning capabilities that provide customers with clinical grade whole genome testing.

GMDx is an Australian company raising A$1.7M.

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