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MEMPHASYS LIMITED. — Capital/Financing Update 2015
Jul 22, 2015
65314_rns_2015-07-22_cc75632b-5514-4e26-a34b-6c6cacc903d7.pdf
Capital/Financing Update
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ASX Release
PROPOSED SALE OF INTEREST IN PRIME BIOLOGICS PTE LIMITED
Sydney, 23 July 2015
The Directors of NuSep Holdings Limited (NuSep) announced that at today’s Board meeting, Directors’ voted unanimously for the company to go to the open market for the sale of its interest in Prime Biologics Pte Limited (PrIME). The sale process that was announced on the 13th April 2015 did not close. The open market sale process will commence immediately.
PrIME is a Singaporean based company commissioning a plasma fractionation facility in Singapore to address the US$1b Asian Therapeutic Plasma products market. PrIME is using the PrIME Technology, developed by NuSep, in association with GE Healthcare.
Given the proposed sale process is now an open market transaction, Nusep also announced that Mr Andrew Goodall will be appointed as its representative on the PrIME Board with Mr Mark Gell to be the alternate. Ms Alison Coutts, who was the prior NuSep representative on the PrIME Board, will resign from the PrIME Board to enable her to be focussed on the commercialisation of the SpermSep technology.
The sale proceeds will be utilised to accelerate the development of SpermSep, NuSep’s internationally competitive technology in the rapidly growing reproduction market.
The Executive Chairman of NuSep Ms Alison Coutts said, “Artificial reproduction, both for humans and animals, is a growing industry.
“The market is currently worth approximately $3 billion in the United States and $520 million in Australia. More than 1.5 million in-vitro fertilisation (IVF) cycles are undertaken around the world each year, resulting in more than 350,000 children being born. There are over more than 2,500 human IVF clinics worldwide.
“Over the next six months to 12 months, NuSep will work with a number of the leading IVF centres in Australia, an opportunity that has been created through a partnership with Newcastle University, led by global expert in reproductive science Laureate Professor John Aitken”, Ms Coutts said.
For further information please contact:
Alison Coutts Executive Chairman +61 2 8415 7300 [email protected]
Email [email protected] Web www.nusep.com ABN 33 120 047 556
NuSep Holdings Ltd 30 Richmond Rd Homebush NSW 2140
Postal Address P.O. Box 2202 Homebush West NSW 2140
Contact Details Telephone +61 2 8415 7300 Facsimile +61 2 8415 7399