MediVac Limited Market Update
Healthcare solutions company MediVac Limited [ASX: MDV] held today an Extraordinary General Meeting in Sydney. The following points were noted during the Chairman's attached market update presentation:
Key research and development activities completed or near completion:
- Development of SunnyWipes Antimicrobial Gel and General Virucidal Wipes ranges now completed with registrations on the Therapeutic Goods Administration (TGA) register.
- First new MetaMizer 240 SSS to be completed this month.
Successful fund-raising initiatives:
- Dutchess Equity facility.
- Sophisticated investor placements.
- Positive feedback from Sydney, Melbourne, USA investor roadshows.
- Investigating MediVac being quoted on the OTC QX Exchange.
- USA based Convertible Security Agreement.
- Refreshment to allow further capital raising secured following today’s EGM.
The company’s focus now on sales:
- Major export order(s) for MetaMizer 240SSS in Sri Lanka and other export markets.
- Local installations of MetaMizers.
- New premises at Kings Park has ample capacity for increased output.
- Distribution/Partners for SunnyWipes.
- New Business Development Manager commenced.
- Continuing search for commercialisation partner for Diakyne.
Executive Chairman of MediVac Limited, Mr Paul McPherson, emphasised the following three points:
- The Sri Lankan Government’s Technical Evaluation Committee has been appointed and is currently evaluating the proposal for a significant order of MetaMizers. Its review is expected to be completed by the end of this month. The order is expected to be for a minimum of 25 new MetaMizer 240 SSS.
- The Australian Government has agreed in principle to provide a sovereign loan to the Sri Lankan Government to fund the loan, subject to final/formal application by the Sri Lankan Government and finalisation of contracts.
- MediVac has received successful efficacy, safety and stability result for SunnyWipes surgical hand rub.
- Alcohol-based hand rub for surgical use compliant to EN 12791 (world recognised
- Skin wash pre-operation antiseptic.
- Sustained effect compliant to EN 1500.
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