Skip to main content
Premium Trial:

Request an Annual Quote

Fluorotechnics Files for IPO in Australia

NEW YORK (GenomeWeb News) – Fluorotechnics, which announced earlier this week that it had acquired The Gel Company (GelCo), has filed with the Australian Stock Exchange to raise up to $12 million through an initial public offering of common stock.
 
The Sydney, Australia-based firm makes instruments, gels, and other consumables for DNA and protein research, including proteomics, cell analysis, and diagnostics. It was spun out of Macquarie University in 2002.
 
Fluorotechnics’ share offering commenced yesterday at AUS$1 (US$.80) per share and is due to close on Oct. 10, the firm said. Once the IPO is completed, the company will have between 26 million and 28 million shares trading on the ASX, with a market cap of AUS$26 million to AUS$28 million.
 
Duncan Veal, CEO of Fluorotechnics, said in a statement that the IPO will “allow Fluorotechnics to ramp up its production capability to meet the significant unmet demand for its proteomics products.”
 
In a letter to prospective shareholders in a prospectus for the IPO, Fluorotechnics Non-executive Chairman Rick Taylor said, “The Board is confident the Company will achieve revenues of at least $7.5 million in the financial year ended 30 June 2009 due to significant unmet demand from identified customers for our non-fluorescent gel products.”
 
Although the firm did not previously disclose the acquisition price for GelCo, according to the prospectus, AUS$2.5 of the funds from the IPO would be applied to the acquisition.
The Scan

Germline-Targeting HIV Vaccine Shows Promise in Phase I Trial

A National Institutes of Health-led team reports in Science that a broadly neutralizing antibody HIV vaccine induced bnAb precursors in 97 percent of those given the vaccine.

Study Uncovers Genetic Mutation in Childhood Glaucoma

A study in the Journal of Clinical Investigation ties a heterozygous missense variant in thrombospondin 1 to childhood glaucoma.

Gene Co-Expression Database for Humans, Model Organisms Gets Update

GeneFriends has been updated to include gene and transcript co-expression networks based on RNA-seq data from 46,475 human and 34,322 mouse samples, a new paper in Nucleic Acids Research says.

New Study Investigates Genomics of Fanconi Anemia Repair Pathway in Cancer

A Rockefeller University team reports in Nature that FA repair deficiency leads to structural variants that can contribute to genomic instability.