PACMAB TO RAISE $5M TO DEVELOP DRUG

Biotechnology company PacMab Ltd is going to the market to raise funds to further develop a treatment for a fatal blood cancer. In the first-ever technology spin-off for Sydney university UTS, PacMab will raise at least $5 million under an initial public offer (IPO) to commercialise the drug called cKap. cKap is being developed to treat multiple myeloma, an incurable cancer of the blood affecting around 2,500 Australians.

Sydney Morning Herald (http://www.smh.com.au/news/Business/PacMab-to-raise-5m-to-develop-drug/2005/10/27/1130391592471.html)