Join our daily newsletter At The Bell to receive exclusive market insights
- AdAlta (1AD) welcomes two new investors associated via the Yuuwa Capital Venture Capital fund as substantial shareholders
- The company says support from Yuuwa and major shareholders has enabled AdAlta’s continued pipeline progress and has supported clinical stage testing of AD-214 for treating lung and kidney cancer and eye fibrosis
- Yuuwa co-founder Liddy McCall says the company is excited to see the next stage of AdAlta’s clinical progress as it unfolds
- AdAlta last traded at 3.8 cents on January 23
AdAlta (1AD) has welcomed two new investors associated via the Yuuwa Capital Venture Capital fund as substantial shareholders.
The Yuuwa Capital Innovation Investment Fund has been supported by the Australian Government through the Innovation Investment Fund Program, under which the commonwealth co-invested with private sector investors in venture capital funds to assist early-stage companies to commercialise their research efforts.
The company said support from Yuuwa and major shareholders has enabled AdAlta’s continued pipeline progress and has supported clinical stage testing of AD-214 for treating lung and kidney cancer and eye fibrosis.
“This is very positive news as we continue with our clinical plans and with progressing our strategic priorities for both AD-214 and the broader pipeline,” AdAlta CEO and Managing Director Dr Tim Oldham said.
“We thank Yuuwa for its strong support over many years, which has seen us take the i-body technology from pre-IPO and preclinical research stage through manufacturing scale-up into the listed, clinical stage company AdAlta is today.”
Yuuwa co-founder and AdAlta director Liddy McCall said the company is excited to see the next stage of AdAlta’s clinical progress as it unfolds.
“The transfer of Yuuwa’s shares is part of the orderly wind up of Yuuwa, required under its operating guidelines.”
AdAlta last traded at 3.8 cents on January 23.
