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Virax Biolabs Group Limited reports developments in immunology research and diagnostics, with a focus on immune response detection and post-acute infection syndromes. Company updates center on the in-development ViraxImmune T cell immune-profiling platform, PAIS-related conditions such as Long COVID, post-treatment Lyme disease and ME/CFS, and the ImmuneSelect research-use-only product portfolio.
Recurring news themes include clinical study activity, research collaborations, regulatory and quality-system preparation, commercial planning for immune-profiling products, private placements and other capital-structure actions. Updates also cover board composition, shareholder communications and Nasdaq listing-compliance matters for the company’s ordinary shares.
Virax Biolabs Group (NASDAQ: VRAX) has announced a distribution agreement for Mpox virus RT-PCR detection kits in 13 European countries and Gulf Cooperation Council (GCC) nations. The kits, which are CE-marked and authorized by the UK's MHRA, offer a sensitivity of 96.7% and specificity of 93.72%, delivering results in under 70 minutes.
CEO James Foster emphasized the company's commitment to providing healthcare professionals with tools to diagnose and mitigate Mpox spread. The agreement allows Virax to import, sell, and distribute Virax-branded Mpox virus Nucleic Acid Detection Kits in key European markets and GCC countries. Interested parties can contact Virax through their website for the Early Release Partnership Program (ERPP).
Virax Biolabs Group (Nasdaq: VRAX), a biotechnology company focused on viral disease detection, has closed a $5 million registered direct offering of ordinary shares. The company sold 1,108,892 ordinary shares at $4.50 per share. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The gross proceeds of approximately $5 million will be used for working capital and general corporate purposes. The offering was conducted under a previously filed and effective shelf registration statement. A final prospectus supplement and accompanying base prospectus are available on the SEC's website.
Virax Biolabs Group (Nasdaq: VRAX), a biotechnology company focusing on immune response detection and viral disease diagnostics, announced a $5 million registered direct offering of 1,108,892 ordinary shares at $4.50 per share.
H.C. Wainwright & Co. is the exclusive placement agent. The offering is set to close around August 23, 2024, pending customary conditions.
Gross proceeds are estimated at $5 million, before placement fees and expenses. Net proceeds are intended for working capital and general corporate purposes.
The offering is conducted under a shelf registration statement (Form F-3, Registration No. 333-275893), previously filed with the SEC and declared effective on December 15, 2023. A final prospectus supplement and the base prospectus will be filed and made available on the SEC website.
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