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Admedus receives $3.425 million in funds from further Star Bright placement

The Hong Kong-based investment company now holds a significant interest of 19.99%.

Increasing stacks of coins
Admedus has a mission of delivering clinically superior solutions to patients

Admedus Limited (ASX:AHZ) has received more than $3.425 million in funds from a placement of more than 26 million shares to new Hong Kong-based significant investor Star Bright Holding Ltd.

This completes the placement to Star Bright announced on Monday.

It takes Star Bright’s total interest in the company to 19.99% of issued shares for a total investment of almost $7.7 million.

READ: Admedus secures strategic cornerstone investor from Hong Kong

The investment follows Star Bright’s recent subscription for shares valued at $500,000 as part of an Admedus placement in May 2018 and another placement raising almost $4.26 million, issued on August 22, 2018.

Admedus is also negotiating with Star Bright in respect of a long-term funding agreement for Admedus Immunotherapies.

In this regard, the company has entered an MOU for a 60% share of the vaccines business for an initial investment of $18 million.

Star Bright will assist in China

As well as the equity investments, Star Bright has indicated their interest in helping to establish an Admedus commercial base in China in the near term.

Star Bright is a private investment company owned by Madam Zhang Lishan, whose business interests are primarily global asset and equity investments.

These include investments in the medical and healthcare industry, with a mission to support the long-term development of global medical care and to help patients in need.

READ: Admedus extends successful distribution deal for medication delivery pumps

Star Bright recognises the potential of Admedus’ ADAPT technology to deliver tangible benefits for the global medical community and its ability to improve the lives and health outcomes of patients.

Admedus is a medical technologies company delivering clinically superior solutions that help healthcare professionals create life-changing outcomes for patients.

The focus is on investing in and developing next-generation technologies with world-class partners, acquiring strategic assets to grow product and service offerings and expanding revenues from its existing medical sales and distribution business.

Quick facts: Admedus Ltd

Price: 0.092 AUD

ASX:AHZ
Market: ASX
Market Cap: $54.36 m
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Admedus CEO in New York to update on recent key milestones

Admedus Ltd (ASX:AHZ) CEO Wayne Paterson visited the Proactive Investors New York studio to update on key milestones the company has achieved in the past few months, including receiving European approval on two of its products.

on 03/17/2019

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