IDT Australia Eyes Growth with $7M Capital Raise

IDT Australia Limited (AU:IDT) has released an update.

IDT Australia Limited, a pharmaceutical manufacturing company, has announced a fully underwritten entitlement offer to raise $7 million. The capital will fund advancements in mRNA therapeutics and enhance IDT’s capabilities in Antibody Drug Conjugate production, catering to an expected rise in work orders. Additionally, the company has received a non-binding indicative offer from Myndbio Pty Ltd for a potential acquisition, though no definitive agreement has been established.

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