EQX 0.00% 26.0¢ equatorial resources limited

a new biotech investment program

  1. 5,447 Posts.
    Eqitx is following along the lines of Biocomm which is a provider of early opportunities in the biotech industry.Getting in early and having good contacts is very important;so important that Biotech Capital has invested in Biocomm[an unlisted company]to get better investment opportunities.So it is with Eqitx,with their well connected management.Expect early announcements of Development funds investing in them and biotech seed capital opportunities being taken up by them.

    11 June 2002

    BioTech Capital Ltd concludes investment in Biocomm

    The Directors of BioTech Capital Ltd (BTC) are pleased to announce that the previously announced agreement to invest up to $3,000,000 in Melbourne-based Biocomm Services Pty Ltd (¡§Biocomm¡¨) has been concluded. Biocomm has announced the formation of a total capital pool of $11.5 million including commitments from Queensland Investment Corporation, Rothschild Bioscience Managers and Macquarie Bank Limited.

    BTC has agreed to invest $3,000,000 for an initial 24% voting stake in Biocomm. In addition, as part of this investment BTC will be issued with 300,000 5 year options exercisable at the current subscription price of $1.00 per option.

    This investment takes total invested funds of BTC to $19,875,000 across six companies ¡V or approximately 51.1% of total funds. Funds of approximately $19.1 million remain available for investment as the company implements its investment strategy of building a diversified group of high quality, unlisted Australian biotechnology companies.

    Additional information can be found at www.biotechcapital.com.au and www.biocomm.com.au

    Biocomm
    Biocomm is a business development and commercialisation company focused exclusively on bioscience opportunities. Biocomm's role is to provide an internationally recognised high quality business development service to commercialise life sciences research from its academic members. This membership base includes some of Australia¡¦s leading medical research institutes including:

    „h Monash University¡¦s Faculty of Medicine
    „h RMIT Faculty of Life Sciences
    „h Baker Institute of Medical Research
    „h Prince Henry¡¦s Institute of Medical Research
    „h Victorian College of Pharmacy
    „h Peter MacCallum Cancer Institute
    „h Mental Health Research Institute
    „h Macfarlane Burnet Centre
    „h Murdoch and Children¡¦s Research Institute
    „h Neurosciences Victoria
    „h St Vincent¡¦s Institute of Medical Research
    „h Austin Research Institute
    „h Melbourne Health
    „h The University of Melbourne

    Biocomm will create value for its shareholders through:
    „h The generation of licensing and royalty incomes from the identification of valuable intellectual property from its member base and other groups
    „h Fee for service advisory work
    „h Earning equity positions in companies spun-out from the Member Institutes and other sources
 
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