The Company has advised they have firm commitments in excess of the $4 million minimum raise, therefore the offer will close on or before Monday, 17 July 2017.
Sienna Cancer Diagnostics Limited (ASX: SDX) is an Australian company that has developed, and commercialised, a new technology with application in the early detection of cancer.
Sienna has launched an in vitro diagnostic (“IVD”) test to detect human TElomerase Reverse Transcriptase (“hTERT”), recognized as an important cancer-related biomarker. The first application of the test is as an adjunct to urine cytology to assist in the diagnosis of bladder cancer.
Sienna has registered its IVD test for human clinical use with the relevant authorities in the USA, Europe and Australia. The technology is currently in routine use in commercial laboratories in the USA, generating revenues of $292k for the six months to December 2017.
Supply and distribution agreements have been executed with partners in the USA, the UK and Switzerland, with additional partnerships being developed in a number of other countries. StatLab, a pathology supply company that has significant presence in the US market, has been appointed as the distribution partner for the USA.
Sienna will be targeting a market segment of urine cytology, including bladder cancer detection. In the USA alone this market opportunity is estimated to be between 1.3 and 1.6 million tests per annum. Sienna’s test is eligible for an average reimbursement of US$108.38 per test in the USA creating a total market value for laboratories in the USA of over US$140 million per year. The rest of world outside the USA represents a significant additional market opportunity.
The company believes future revenue growth may be achieved through:
Sienna received first product revenues during the 2015 FY. Total revenue for the half-year to 31 December 2016 was $935,793, including $291,588 of product revenue and $637,523 received from the Australian Government’s R&D Tax Incentive program.
Sienna is looking to raise between $4 million and $6 million via its IPO and on listing, the expected market capitalisation at IPO will be $35.5 million to $37.5 million.
As set out in Section 14 of the Prospectus, Sienna Cancer Diagnostics Limited is subject to a range of risks, including but not limited to commercialisation and intellectual property risks, sufficiency of funding and the expenditure program.
Section 734(6) disclosure: The issuer of the securities is Sienna Cancer Diagnostics Limited ACN 099 803 460. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).
OnMarket has a limited allocation. The offer close and the 'Pay By' dates may change. Bids over $10,000 may be scaled back more heavily. Duplicate bids under the same investment profile or investor name may be cancelled.
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Simble Solutions Limited (ASX: SIS) is an Australian enterprise Software as a Service (SaaS) company focused on business and resource management. Its energy management solutions are principally catered towards enterprise and SME customers to reduce and manage their energy consumption. The platform is sold via channel partnerships in Australia, UK and NZ.
Update: Firm committments of at Least $15 million have been received. Offer closing Friday 19th January.
Duxton Broadacre Farms Ltd (ASX: DBF) is expected to be the only ASX listed vehicle of its type in Australia, providing its investors with direct exposure grain production. It provides investors the opportunity to access the Australian grain industry via a portfolio of diversified dry land and irrigated broadacre farms located near Forbes in NSW.
Applications for the Rong Yu Pharmaceuticals IPO have closed via OnMarket. The company has extended the offer until 16 March.
Rong Yu Pharmaceuticals Ltd (ASX RY8) was founded in 2004 and is focussed on the development, manufacture and sale of prescription and OTC pharmaceutical products based on principles of Traditional Chinese Medicine. With revenue of A$71.4 million in FY2017, the Company’s products are sold in 28 Provinces across China via a network of over 300 wholesale distributors.