Imugene to acquire Biolife Sciences

24 October 2013

Australian drug development and pharmaceutical company Imugene (ASX: IMU) says it has executed a sale and purchase agreement to acquire 100% of Biolife Science Qld, a company incorporated in Australia.

Imugene will, subject to shareholder approval:

Issue 300 million shares to purchase 100% of Biolife;

Raise an additional A$2.5 million ($2.36 million) via the placement of 250 million shares at $0.01. The placement will be managed by Forrest Capital, 85 million shares issued within current capacity with the balance subject to shareholder approval; and

Axel Hoos, current vice president, Oncology R&D at GlaxoSmithKline, is expected to join the board as non-executive director.

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