Manufacturing news briefs — stories you might have missed

OncoSil announces $8.7 million capital raise

Cancer treatment device company OncoSil Medical has announced commitments for a $8.7 million capital raise, made up of a $6.7 million placement and a $2 million share purchase plan. According to a statement from the company on Monday, the raise will fund and accelerate the ongoing commercialisation of its device for treating pancreatic cancer, and it “has received binding commitments from institutional funds to subscribe for any shortfall of the SPP.” Nigel Lange, the company’s CEO and Managing Director, said that commercialisation is predicted to take OncoSil to cashflow breakeven “by H2 CY26”. Lange added: “I want to personally welcome the new investors joining our share register by virtue of the Placement. I also want to thank Pengana Capital Group for both being a cornerstone investor in the Placement and their  ongoing support. The accompanying SPP gives our existing shareholders an opportunity to add to their  holding in the Company as its commercialisation strategy continues to be delivered.”

Myriota seeks SE Asia partnerships at Singapore’s SatelliteAsia

Direct-to-satellite connectivity company Myriota is making its debut at AsiaTech x Singapore’s SatelliteAsia conference, running May 27 – 29 this week, as the company seeks to strengthen regional partnerships across Southeast Asia. In a statement on Monday, Myriota said it is showcasing its low-cost, low-power IoT connectivity platforms Myriota UltraLite and Myriota HyperPulse, a proprietary ultra-low power network, and “the world’s first 5G NTN solution using geostationary satellites with beam-hopping capabilities”, respectively. “We are seeing a real need for better, and more capable, IoT connectivity across the region, where currently many critical resources and infrastructure are not being monitored and therefore businesses are not capturing vital data to protect and optimise resources, like oil and gas in Malaysia, groundwater in Indonesia, plantations in Thailand and fishing vessels in the Philippines,” said Dan Franklin, Myriota Regional Sales Director APAC.

Recce’s China patent

Anti-infectives developer and manufacturer Recce Pharmaceuticals announced on Monday that it has received of a Notice of Acceptance from the China National Intellectual Property Administration for its Patent Family 4. The claims relate to its R327 and R529 and cover process for preparation; use for the treatment of disease, particularly in treatment of bacterial infections, viral infections and more; and various forms of administration for the drugs. CEO James Graham said: “This patent will broaden our patent portfolio for Family 4 out to the second largest pharmaceutical market in the world. We thank the ChinaNational Intellectual Property  Administration for their formal recognition of technical advantages of Recce’s New Class of Anti-Infectives.”

Soilco completes Martins Fertilizers acquisition

Resource recovery company Soilco has announced the successful completion of its acquisition of Martins Fertilizers. Family-owned Martins Fertilizers has a production facility in Yass, New South Wales, with “high-capacity manufacturing and packaging operations”, and supplies an “extensive range of garden products serves prominent hardware stores, independent nurseries, and commercial growers across Australia”, said Soilco last week. Martins offers a range of horticultural products including potting mixes, mulches, soil conditioners and fertilizers. “This acquisition enables us to continue meeting the soil improvement needs of Australian communities and we are delighted to welcome Martins Fertilizers into the SOILCO Group” said Charlie Emery, Soilco’s CEO of SOILCO. The Martin family retains key leadership positions in the organisation “and customers and suppliers can expect a seamless transition as Martins Fertilizers is integrated”, said Soilco.

Avecho receives $1.66 million R&D tax incentive rebate

Melbourne-based Avecho Biotechnology announced the receipt of $1.66 million through the federal government’s Research and Development Tax Incentive Scheme. The receipt was for the year ended December 31, and according to Avecho confirms its “significant and ongoing commitment to the development of differentiated cannabinoid formulations for pharmaceutical registration.” The funds will be used to repay $1.04 million to Endpoint Capital for the advances on the tax credit paid over the last year, as well as support an ongoing Phase III insomnia clinical trial, advancing the company’s commercialisation strategy, and working capital, it said.

Swinburne scientists fermenting bran into high-value products

Swinburne University of Technology says its researchers have developed a process converting cereal industry waste into high-value bacterial cellulose, which is used in medical dressings, food packaging, and elsewhere in a market worth an estimated $750 million globally. Fermentation was used to transform stabilised rice bran from SunRice and cereal dust from Rex James Stockfeed into bacterial cellulose, reducing production costs by up to 90 per cent while maintaining quality. Lead researcher Dr Vito Butardo Jr said in a statement on Wednesday that the research could divert thousands of tonnes of agricultural waste from landfill and address high costs for producing bacterial cellulose. “Our innovative process creates a sustainable circular economy solution that reduces waste and saves money,” he said. “Most importantly, extensive testing confirmed that our waste-derived bacterial cellulose maintains the same high-quality characteristics as cellulose produced from expensive conventional media.”

Picture: credit Recce Pharmaceuticals