By Phil Boeyen, ShareChat Business News Editor
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Tuesday 24th July 2001 |
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Blis chairman, Murray Doyle, says following the company's successful $6 million equity placing in May to New Zealand institutions, now is the time to make the transition from the unlisted securities market.
He says the company has enough financial resources to fund its activities for the next three years.
"We are well capitalised and have the platform of expertise to maximise the value of the intellectual property within the company."
In its first year the company claims to have achieved a number of objectives toward the commercialisation of the first of its Blis products, the Salivaricin B discovery.
Salivaricin B naturally prevents or controls streptococcal throat infections.
Mr Doyle says now the company has the funds it will be able to pursue more discoveries similar to Salivaricin B from the vast collection of Blis (bacteriocin like inhibitory substances) producing organisms, after which the company is named
The company is expecting to begin earning royalty income from Salivaricin B products well within the next three years.
A listing profile for Blis is currently being prepared and will be distributed to brokers at the end of this week.
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