The fledgling Aussie technology sector is growing at a rapid with mergers and acquisitions driving efficiency, scale and global reach. Amcom Communications has received approval for their tie-up with Vocus Communications. The Federal Court of Australia has approved the scheme of arrangement and the new Vocus shares are expected to begin trading on July 9 under the ASX code VOCN.
Benitec Biopharma is posied to list on the Nasdaq announing plans for an IPO in the US. The biotechnology company is targeting to raise between $US60 million and $US70 million under the IPO and deploy proceeds to its therapeutic programs. Benitec plans to also maintain its primary listing on the ASX.
Jet pack developer Martin Aircraft Company is moving towards full commercialisation and has announced a series of developments focussed on India, China and Europe, its inked a formal alliance agreement with India based M2K Group.
Commentary
Last month Finance News Network spoke with the CEO of Actinogen, Dr Bill Kelbey. This biotech company is focused on the development of innovative treatments for Alzheimer’s disease and its Xanamem is currently in the trial phase.
FNN: Actinogen is seeking to determine the full efficiency of Xanamem in Alzheimer’s disease. How are you progressing?
Dr Bill Ketelbey: We’re progressing really well with the research we’re doing. We’re well into the early phase preliminary research. All of that should complete by August/September and all of that data will then be built in to the Phase II trial. The definitive Phase II trial, which is the trial in Alzheimer’s patients and that, will begin early next year.
FNN: Finally Bill, what are the company’s main priorities at the moment and how would you like to position Actinogen in the longer term?
Dr Bill Ketelbey: Our main priorities at the moment have been focused around capital raising. We had to raise the capital to do the research. We’ve had a very successful capital raising a few weeks back, raised very close to $11 million. Along with the R&D rebate, tax rebates that we get from the government; we are well set for funding for the Phase II trial. We’ve got more than adequate funding for the trial.
So the priorities with the funding, the Phase II trial, finishing off the preliminary work that we are busy with at the moment, and will be finished towards the end of September. And then additionally, in parallel to the Alzheimer’s indication, we’re going to look at other indications. Indications like diabetes, like PTSD, like post-myocardial infarction. Reflecting the broad platform of indications that Xanamem and the inhibition of cortisol, offers to us.
You can see the full interview
here.
Takeovers
Cloud and mobile solutions provider Melbourne IT Limited
(ASX:MLB) has secured a majority shareholding in Outware Systems Pty Ltd. Melbourne IT last week inked a deal to buy 50.2 per cent of the shares in privately owned Outware for $21.7 million.
Empired Limited
(ASX:EPD) is reaping the benefits of recent acquisitions and strong growth upping it’s guidance. Due to strong organic growth and recent contract wins Empired now expects FY 2015 to be in the range of $120 million to $130 million around ten million more than previously expected. Revenue for FY 2016 is also expected to be around ten million higher than before.
Amcom Communications Limited
(ASX:AMM) announced they have received approval for their tie-up with Vocus Communications Limited
(ASX:VOC). The Federal Court of Australia has approved the scheme of arrangement and the new Vocus shares are expected to begin trading on July 9 under the ASX code VOCN.
Doing deals
Diversified property group GPT Group
(ASX:GPT) has inked a master services agreement with data services company SkyFii Limited
(ASX:SKF). The deal will cover the roll out of SkyFii’s guest WiFi and analytics services to GPT’s Australian portfolio of retail and office property assets.
As it moves towards full commercialisation Martin Aircraft Company Limited
(ASX:MJP) has announced a series of developments focussed on India, China and Europe. The jet pack developer says it will offer jetpacks to the Indian subcontinent after inking a formal alliancing agreement with India based M2K Group.
Benitec Biopharma Limited
(ASX:BLT) has announced plans for an initial public offering the in the US with a listing on the tech-heavy Nasdaq index. The biotechnology company is targeting to raise between $US60 million and $US70 million under the IPO and deploy proceeds to its therapeutic programs. Benitec plans to also maintain its primary listing on the ASX.
Growing pains
Shares in Freelancer Limited
(ASX:FLN) have fallen despite flagging strong growth ahead. The online job outsourcing company’s China Investor Roadshow states the group continues to demonstrate exceptional growth with record net revenue, registered users and posted projects over FY14. Looking ahead Freelancer says it expects this exceptional growth to continue over the current year.
Smartpay Holdings Limited (ASX:SMP, NZX:SPY) has hit back at a unsympathetic article in the Australian Financial Review regarding its dispute with Live Taxi Epay. The AFR is reporting that there was an acrimonious contract break with Live Taxi when Smartpay stopped supplying Live Taxi with payment terminals as it was entering the Australian market itself. Live Taxi has been seeking compensation from Smartpay relating to breakdowns in its terminals several years ago.
