- Biological separations and reproductive biology company Memphasys (MEM) has entered into a trading halt as it plans a capital raise
- It is unknown how much the company is aiming to raise or where the funds will be spent
- Under the halt, Memphasys shares will be paused until Thursday, May 27, or when more information about the raise is released to the market
- The company is currently working with global reproductive biology expert, Professor John Aitken and his research team at the University of Newcastle
- Memphasys’ shares last traded at 5.2 cents each on May 24
Memphasys (MEM) has entered into a trading halt as it plans an upcoming capital raise.
Currently, there is no information on how much the company is aiming to raise or where the funds will be spent.
MEM shares will be paused until Thursday, May 27, or when more information about the raise is released to the market, whichever one comes first.
Memphasys is a biological separations and reproductive biology company that is developing and commercialising innovative separation techniques based on its technology.
The company is currently working with global reproductive biology expert, Professor John Aitken, and his research team at the University of Newcastle, to expand its focus into reproductive biotechnology as well as bioseparations.
Earlier this month, the company provided an update on this research.
All products have passed initial feasibility reviews of commercial opportunity and technical development capability.
The most advanced product, Stallion Dismount Diagnostic, has completed a proof of concept and is now progressing to the prototype development phase.
Before today’s trading halt, Memphasys last traded at 5.2 cents each on May 24.