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Next Science raise $15 million cash from investors

Anti-microbial drug development company Next Science has completed a $15 million capital raising, with the closure of a $5 million share purchase plan. The raising was $4.2 million over-subscribed. This follows an earlier raising from institutional investors. The cash will help fund the commercial release in the United States market of Next Science’s XPerience Surgical Rinse, part of a portfolio of products utilising its Xbio technology which targets the biofilm on infective bacteria.

Cannabis firms in marketing advances

Creso Pharma and MGC Pharma have scored new sales as Australian cannaboid suppliers make inroads into overseas markets. MGC Pharma has dispatched its first high THC formulated products to the big Brazil market for the first time, where they will be sold to patients on compassionate grounds. THC is the psychoactive molecule in cannabis. Meanwhile Creso Pharma has received a second order from South Africa for its Cannamics cannaQIX lozenges, a nutraceutical containing hemp oil, vitamins and zinc.

Bionomics in R&D tax incentive refund

Biopharmaceutical developer Bionomics has received a $2.9 million tax incentive refund from the federal government for the 2019-20 financial year. The company is developing a drug BNC210 to treat post traumatic stress disorder (PTSD), and has a partnership with global drug giant Merck & Co.

LBT Innovations sells APAS Independence to Europe

Microbiology diagnostic device manufacturer LBT Innovations has sold its APAS Independence microbiology machines to German laboratory company, Limbach Group. The APAS Independence laboratory instrument (pictured) is an imaging, interpretation, sorting and reporting machine that automatically examines culture plates for the presence of bacterial colonies. Limbach will utilise the equipment in the detection of the Methicillin-resistant Staphylococcus aureus (MRSA) bacterium.

Picture: LBT Innovations

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