SLT 0.00% 0.7¢ select exploration limited

more press coming.

  1. 5,609 Posts.
    ABC business show at 6.30 am tomorrow
    Sky business report at 20.30 tonight
    CNBC on market watch tonight.

    This is only The start of the press on this one, the media are hot about it.

    Market cap is low compared to other biotechs.

    Please do your own research.

    Select makes strong ASX debut
    Date: 2003-Jul-03 02:49 PM

    Shares in Select Vaccines were trading well above their issue price after the Melbourne biotech made its debut on the Australian Stock Exchange.

    The company raised $2.4 million through the issue of 12.2 million shares at 20 cents and 6.1 million free attaching options.

    The shares opened at 30 cents and were at 35 cents at 1442 AEST on a volume of 2.1 million.

    The shares earlier hit 40 cents.

    Select Vaccines was set up to develop and commercialise infectious disease diagnostics, vaccines and therapeutics from the Macfarlane Burnet Institute for Medical Research and Public Health.

    "We are confident that the market is ready for a new company with products capable of generating cashflows within 12 months," Select Vaccines managing director Dr Martin Soust said.

    Select Vaccines would have access to a product pipeline at the Burnet Institute, including rapid point-of-care diagnostics for Hepatitis A and E.

    The hepatitis diagnostics were the most advanced in the pipeline, and there were no similar products on the market.

    Dr Soust said the rapid test kits took only minutes to diagnose with 98 per cent accuracy the hepatitis viruses in a blood sample taken from a finger prik.

    The first commercial deal was expected to be completed within 12 months.

    Select Vaccines has set up two subsidiary project companies to fund and manage the projects from the Burnet Institute.

    Hepgenics Pty Ltd will manage the hepatitis diagnostics and vaccines projects.

    Picoral Pty Ltd will manage the development of anti-virals against rhinoviruses and enteroviruses.
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