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Biotron ( (AU:BIT) ) has shared an announcement.
Biotron Limited has announced the acquisition of Sedarex Limited, with the consideration for the purchase consisting of 500 million ordinary Biotron shares and performance shares valued at $500,000. This acquisition is expected to enhance Biotron’s operational capabilities and strengthen its position in the pharmaceutical industry, particularly in the development of drugs for viral diseases. The announcement, authorized by the Managing Director, highlights the strategic move to expand Biotron’s portfolio and potential impact on stakeholders.
More about Biotron
Biotron Limited is a company focused on the research, development, and commercialization of drugs targeting significant viral diseases with unmet medical needs. The company is involved in clinical development for HIV-1 and COVID-19, as well as preclinical programs for HBV and other serious viruses. Biotron is also working on drugs targeting viroporins, a class of virus proteins involved in the life cycle of many viruses, including those causing global health issues like Coronavirus, Dengue, Ebola, and Zika.
Technical Sentiment Signal: Sell
Current Market Cap: A$6.64M
For a thorough assessment of BIT stock, go to TipRanks’ Stock Analysis page.