(MENAFN- ProactiveInvestors - Australia) BioDiem (ASX: BDM) has been granted a trading halt today by the ASX pending the release of capital raising initiatives, with the company's shares placed in pre-open.
BioDiem has not yet indicated where the potential new inflow of funds will be allocated, but the company is focused on research and technology targeting cancers and infectious diseases.
The company's core technologies include the Live Attenuated Influenza Virus (LAIV), the SAVINE platform and the BDM-I antimicrobial compound. BioDiem has also in-licensed vaccine technologies from Australian National University and the University of Canberra with initial target indications of dengue fever and hepatitis respectively.
A highlight for the FY12 financial year included receiving $1.33 million in license fees from vaccine licensing activities in India and China.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 27th September 2012.
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