Helicon opens $4m IPO
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Tuesday, 3 July, 2007 - 22:00
PERTH-BASED pharmaceutical products commercialisation specialist, Helicon Group Ltd, has launched its initial public offer, aiming to raise up to $4 million to fund market research and pursuit of new opportunities in the Chinese and north Asian markets. The company has bought distribution rights for Subiaco-based Clinical Cell Culture Ltd’s ReCell cell harvesting device in China. Helicon also acquired distribution rights for New York-based Medwrap Corporation’s Island wound dressing in Australia, New Zealand, China, South Korea and South-East Asia excluding Thailand, as well as Chinese distribution rights for UK-based Maelor Pharmaceuticals Ltd’s Volplex plasma substitute. Helicon is chaired by Allegra Capital Pty Ltd chair and Biotech International Ltd (now Agenix Ltd) founding chief executive, Saliba Sassine, in a non-executive capacity. Joining Mr Sassine on the board are former Allergan Inc managing director Peter Abrahamson as managing director, along with non-executive directors Arthur Emmett and Chris Brown. Allegra Capital will be manager to the issue, with Stantons International auditors and Stanton Partners Corporate serving as investigating accountant. DJ Carmichael Pty Ltd will act as lead broker to the issue, with Steinepreis Paganin providing legal advice.