Midatech has announced that its shareholders have not approved the acquisition of Bioasis Technologies at the company’s annual general meeting (AGM), thereby ceasing all proposed transactions/events (including the US$9.6m private placement) contingent on the deal. This comes as a major setback for Midatech as it was counting on the deal to diversify operations and extend its cash runway into Q423. The shareholders’ decision puts Midatech in a tough situation as the company only has cash to last ....
24 Jan 2023
Midatech Pharma - Urgent pivot required following Bioasis deal fallout
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Midatech Pharma - Urgent pivot required following Bioasis deal fallout
- Published:
24 Jan 2023 -
Author:
Soo Romanoff -
Pages:
2
Midatech has announced that its shareholders have not approved the acquisition of Bioasis Technologies at the company’s annual general meeting (AGM), thereby ceasing all proposed transactions/events (including the US$9.6m private placement) contingent on the deal. This comes as a major setback for Midatech as it was counting on the deal to diversify operations and extend its cash runway into Q423. The shareholders’ decision puts Midatech in a tough situation as the company only has cash to last ....