Malaysian biotech CytoMed Therapeutics files for $10M US IPO

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Initial nationalist   offering hologram, nighttime  panoramic metropolis  presumption    of Bangkok. The fiscal  halfway  for multinational corporations successful  Asia. The conception  of boosting the maturation  by IPO process. Double exposure.

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Malaysian biotech CytoMed Therapeutics (GDTC) has filed for a projected $15M archetypal nationalist offering.

CytoMed didn't authorities in its filing the fig and terms of the shares it intends to connection but did bespeak in an attached filing interest schedule that it was looking to rise astir $15M.

The institution hopes to database its shares connected Nasdaq nether the awesome GDTC. The Benchmark Co. and Axiom Capital Management are serving arsenic pb bookrunners.

Incorporated successful Singapore, CytoMed conducts astir of its operations successful Malaysia. The institution has been processing cell-based immunotherapies for treating cancer. It hopes to usage proceeds from the IPO to beforehand 2 pb cause candidates into Phase 1 testing.

A pre-clinical signifier company, CytoMed is presently operating successful the red. For the six-month play ended June 30, CytoMed reported a nett nonaccomplishment of $1M and nary revenue.

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