Alchemia's oncology subsidiary proposes IPO

Audeo Oncology Inc., the newly formed U.S. subsidiary of Alchemia Ltd. (ASX:ACL), said it plans to raise up to $60 million in an IPO on NASDAQ underwritten by Leerink and Oppenheimer. The subsidiary is developing Alchemia's Hyaluronic Acid Chemotransport Technology ( HyACT) oncology programs, including HyCAMP ( HA-Irinotecan). The IV formulation of irinotecan and hyaluronic acid is in Phase III testing to treat metastatic colorectal cancer. ...