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Patrys Limited ( (AU:PAB) ) has issued an announcement.
Patrys Limited has completed the acquisition of 100% of Reliis Pty Ltd, making Reliis a wholly owned subsidiary and formally adding its lead asset, RLS-2201, a proprietary injectable formulation of quetiapine for delirium management in acute-care environments, to Patrys’ clinical-stage pipeline. The deal advances Patrys’ strategy to broaden its portfolio with a differentiated, lower-risk asset targeting a large unmet medical need where no approved treatments currently exist, while also issuing consideration securities to finalise the transaction and strengthening governance and execution capability through the appointments of Reliis co-founder and finance/governance specialist Leanne Kite, and clinical research operations executive Dino Cercarelli, as Non-Executive Directors.
More about Patrys Limited
Patrys Limited is an ASX-listed therapeutic antibody development company that is expanding its focus by incorporating de-risked, clinical-stage pharmaceutical assets. Through the acquisition of Reliis Pty Ltd, a clinical-stage company that reformulates established, approved therapeutics, Patrys is adding a proprietary injectable quetiapine program aimed at addressing significant unmet medical needs in acute-care settings such as intensive care, aged care and palliative care.
Average Trading Volume: 498,009
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$9.88M
For an in-depth examination of PAB stock, go to TipRanks’ Overview page.