Alchemia cancer news

Alchemia delayed plans to spin out its U.S. subsidiary Audeo Oncology Inc. (San Francisco, Calif.) and list it on U.S. and Australian exchanges. The company said it was unable to secure new investments at terms acceptable to its board. Alchemia also said it will continue to evaluate longer-term financing options, including the listing of Audeo next year. Alchemia could not be reached for details.

In July, Audeo filed to raise up to $60 million in an IPO on NASDAQ. In November, the subsidiary amended its IPO to sell 3.3 million shares at $14-$16 per share. Audeo also said in November that it planned to undertake a secondary listing of CHESS Depository Instruments (CDIs) on the ASX (see BioCentury, Nov. 12). ...