Sienna Cancer Diagnostics (ASX:SDX) Lists On ASX

03-Aug-2017

Highlights:

• Sienna Cancer Diagnostics has listed on the Australian Securities Exchange (ASX) under the ticker code SDX
• Sienna received strong support, raising $4.6 million in an IPO managed by Sequoia Corporate Finance
• With approximately 180 million shares on issue the company’s indicative market capitalisation is approximately $36 million
• Sienna is the first company to develop an In-Vitro Diagnostic (IVD) product for the detection of telomerase in human clinical samples, currently being used in the application of bladder cancer as an adjunct to urine cytology
• Sienna has its IVD product registered with the FDA in the USA where commercial sales have already commenced. It also has CE Marking and IVD registration in Europe and Australia
• Funds raised in the IPO will be used to drive sales and marketing momentum in the USA, develop new geographical markets, advance additional clinical applications, and expand the product pipeline

 

Sienna, a commercial stage, medical technology company focussed on the development and commercialisation of innovative cancer-related tests, has today listed on the ASX after raising $4.6 million from the Initial Public Offering (IPO).

The IPO conducted by the lead manager, Sequoia Corporate Finance, was well supported by both institutional and retail investors.

Sienna’s IVD product detects hTERT, a component of telomerase, a biomarker found in nearly all epithelial cancers. Sienna’s test allows pathology labs to detect this biomarker as an adjunct to urine cytology, to assist in the diagnosis of bladder cancer.

Matthew Hoskin, CEO of Sienna Diagnostics said, “This is an exciting time for investors to be joining Sienna, with commercial sales already underway, the Company is now poised for product revenue growth. The funds raised through the IPO will support this marketing and scale up to support a broader geographic base, while also providing the opportunity to develop further clinical applications.”