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EQUATORIAL RESOURCES LIMITED Capital/Financing Update 2006
64870_rns_2006-02-02_319c23cf-4dd6-4c1e-a7b3-502de8bb569d.pdf
Capital/Financing Update
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ASX/Media Release
EQITX Placement
3 February 2006, Melbourne: The Board of Directors of EQiTX Limited (ASX:EQX) announced today that EQiTX had completed a placement of 3.5 million ordinary shares at \$0.20 cents per share. The placement was made to UK-based investors and arranged by Eden Group. Eden Group is a London based firm that specialises in equity brokerage and trading. Eden acts in both a principal and agency capacity in UK domestic and international securities, AIM and gilt-edged securities. The firm's agency business is conducted mainly with private clients and institutional investors.
The placement has raised \$700,000 to fully fund the further investment in the VacTX vaccine project announced on 30 January 2006 and to provide additional working capital.
VacTX is developing and commercialising the synthetic lipopeptide vaccine technology discovered by the CRC for Vaccine Technology. The lipopeptide technology has the potential to produce safe and effective vaccines to prevent or treat a range of diseases. These vaccines are readily and reliably synthesised, resulting in a pure product that induces highly specific immune responses. Furthermore, the vaccines may be administered intranasally and are relatively inexpensive to manufacture.
In recent months, further progress has been made in the collaboration with Johns Hopkins University to develop and evaluate a lipopeptide vaccine targeting a cancer-causing virus. Studies in animals were also initiated to evaluate the efficacy of prototype vaccines targeting the treatment of allergy/asthma and cardiovascular disease.
Inquiries
Sue MacLeman Chief Executive Officer EQITX Limited 0437 211 200
Rudi Michelson Monsoon Communications 0411 402 737
About EQITX (www.EQITX.com)
EQITX Limited (ASX:EQX) is a publicly listed Australian biotechnology company with interests in the areas of chronic diseases and age-related conditions. EQITX is developing a portfolio of technologies to a stage where they will be of commercial interest to multinational pharmaceutical and biotechnology companies. The company's two main programs are the ZingoTX project to develop pharmacologically active compounds for pain management, and the VacTX project to develop and commercialise novel synthetic immunotherapeutics against a range of human conditions, including infectious diseases, cancer, allergies and autoimmune diseases.
EOiTX Limited
Level 1, 123 Camberwell Rd Hawthorn Fast VIC 3123. Phone (+61.3) 98119998 Fax: (+61 3) 98134259
Email: [email protected] www.editx.com
ABN: 50 009 188 694