Sydney, Nov 10, 2005 AEST (ABN Newswire) - Pharmaxis (ASX: PXS) is undertaking a public offering of ordinary shares in the form of American Depositary Shares in the United States.
In anticipation of the closing of the public offering in the United States, the Company has issued 19,500,000 ordinary shares and has deposited them with The Bank of New York as depositary agent. The Bank of New York will in turn issue 1,300,000 American Depositary Shares which will be sold in the public offering in the United States.
About Pharmaxis Ltd
Pharmaxis Ltd (ASX:PXS) (OTCMKTS:PXSLY) (ACN 082 811 630) is an Australian research pharmaceutical company focused on inflammation and fibrosis with a portfolio of products at various stages of development and approval. Its product Bronchitol® for cystic fibrosis is marketed in Europe, Russia and Australia. Its product Aridol® for the assessment of asthma is sold in Europe, Australia and Asia.
The company’s development pipeline is centred on its expertise in amine oxidase chemistry and includes a series of Lysyl Oxidase Inhibitors that will enter clinical development in 2017 targeting fibrotic diseases of the heart, kidney, liver and lung. In May 2015, Boehringer Ingelheim acquired the Pharmaxis investigational drug PXS-4728A, a potent inhibitor of Semicarbazide-Sensitive Amine Oxidase (SSAO), to develop it for the treatment of the liver-related condition Non-alcoholic Steatohepatitis (NASH) and other inflammatory diseases.
Pharmaxis is listed on the Australian Securities Exchange (symbol PXS). The company’s head office, manufacturing and research facilities are located in Sydney, Australia. For more information about Pharmaxis, please see https://www.pharmaxis.com.au
