News and Announcements
All Conditions Satisfied for the Acquisition of Dimerix Bioscience
- Published June 30, 2015 3:18PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
ASX Company Announcement, 30th June 2015
The Board of Sun Biomedical Limited is pleased to advise that all of the conditions precedent to the completion of the acquisition of Dimerix Bioscience have been satisfied.
The conditions were set in the formal sale agreements dated 13 May 2015 between Sun Biomedical and Dimerix Bioscience and are as follows:
• Sun Biomedical obtaining all necessary shareholder approvals;
• All of the Dimerix Shareholders entering into acquisition agreements with Sun Biomedical in respect
to their shareholdings in Dimerix;
• Sun Biomedical receiving firm commitments and cleared funds for the full amount of the Capital
Raising; and
• No material breach of the warranties given in the implementation agreement having occurred.
With the conditions precedent being satisfied, the Board advises that the transaction is now unconditional and the acquisition of Dimerix Bioscience should be completed by close of business on July 3, 2015 upon issuing the placement shares to sophisticated investor clients of Forrest Capital Pty Ltd, vendor shares, transaction options and associated corporate advisor options.
About Dimerix
Dimerix Bioscience Limited is a public unlisted company developing a new therapy for Chronic Kidney Disease that is currently recruiting for a Phase II trial being conducted in Melbourne. In addition Dimerix owns a patented drug discovery technology that is able to identify new applications of previously approved drugs and develop them for new medical indications with high unmet need. Since previously approved drugs
have extensive prior clinical use, the clinical development pathway for Dimerix’s therapies will be significantly shorter.
To download the full document, please click on the link below.
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