(MENAFN - ProactiveInvestors - Australia) Viralytics (ASX: VLA) will soon release news of a capital raising after being granted a trading halt by the ASX today.
The company is working to advance its oncolytic (cancer killing) virus programs, including the Phase 2 melanoma study in the U.S. and other potential indications such as bladder cancer.
In a recent coup for Viralytics, the company gained the expertise of former Starpharma vice president and respected biotechnology professional Dr Malcolm McColl to lead the company in the role of chief executive officer.
During Dr McColl's two years at Starpharma he was a driver of partnering transactions with global and regional companies, and had a lead role in the in-house docetaxel oncology drug program.
Importantly, he has big pharma experience and has completed about 50 research, development, licensing, M&A and other partnering deals.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 21st November.