Proactive Investors - Run By Investors For Investors

Rhinomed Limited to increase cash position

Rhinomed Limited to increase cash position

Medical technology company Rhinomed Limited (ASX:RNO) is heading to market with a capital raising.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

Earlier in the month the company appointed

Australian based EI Trading and its Israeli subsidiary AirActive as inaugural distribution partner for its Turbine nasal dilation device in Israel.

The deal seeks to introduce the Turbine range of technologies into the Israeli cycling and triathlon community and place the Turbine into over 450 Israeli cycling retailers.

Rhinomed is focused on producing leading technologies and launching these into the international marketplace.

Last month, the Turbine was granted registration with the US Food and Drug Administration as a medical device.

The Turbine is an internal nasal dilator that increases airflow by an average of 38% and can assist athletes as a solution to breathlessness during aerobic exercise.

The halt will remain in place until the opening of trade on Monday 1st September 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

View full RNO profile View Profile

Rhinomed Ltd Timeline

Newswire
September 15 2015

Related Articles

1537236236_main-better-use.jpg
September 17 2018
The company is utilising technology and big data to tackle the growing healthcare crisis and personalise treatment options for preventative care.
A paper rocket is ready to launch on a surgeon's scissors
March 28 2019
The company hopes to improve its share price with ADAPT technology successes.
consumer health segment overview
January 10 2019
The company sells clinically validated anti-ageing products for hair, skin and body.
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use