UNSW spinout, Biosignal, raises $4 million in back door listing
1st April 2004
CTI Communications Limited (to be renamed Biosignal Limited) today announced that its offer of shares to raise $4 million has been closed oversubscribed and its offers to acquire 100% of the shares in Biosignal Pty Ltd have been successful.
Biosignal is a spin out company from Unisearch, the commercialisation arm of the University of New South Wales. The company focuses on the commercialisation of biomaterials which prevent bacterial colonisation. These biomaterials can be incorporated into a range of products such as contact lenses and other medical devices including catheters.
“Anyone who has worn contact lenses will have suffered from red, sore eyes caused by bacteria. Biosignal’s biomaterials are resistant to colonisation by bacteria and potentially will lead to a new generation of contact lens products,” said Michael Oredsson, CEO and Managing Director.
The company’s proprietary technology is based on anti-microbial compounds called furanones found in a seaweed, Delisea pulchra, which is indigenous to Australia's East Coast. Biosignal's Furanones are naturally derived molecules that can prevent the colonisation by bacteria on all kinds of surfaces, ranging from the human body to a ships hull.
Biosignal’s compounds inhibit the development of pathogenic bacterial virulence traits, such as toxins and enzymes. They also minimise the potential for the development of resistance by bacteria, which is currently a significant problem with existing antibiotics and biocides. Current R&D work indicates that the furanones can be applied to a broad range of product applications, from contact lenses and catheters to marine antifouling paints and household cleaners.
Biosignal has already derived collaborative income from leading domestic and international corporations in the consumer, industrial and human health fields.
The company has extensive intellectual property protection for the technology, having full title to 11 patent families and shared title to three patent families and all associated intellectual property rights, protecting key aspects of its technology. These include the Biosignal furanones themselves, their manufacturing process and product applications of the compounds.
“The interest in Biosignal is testament to our technology and has resulted in investors being given a chance to participate in an Australian biotechnology company with significant potential,” said Mr Oredsson”
“We are looking forward to building a positive relationship with our shareholders, and creating value through further research, commercial collaborations and product launches in the future.”
Contact details
Media: Rebecca Christie and Amy Winter Buchan, ph 9293 2939.
Company: Michael Oredsson, CEO and Managing Director, Biosignal, ph 9385 5510, mob 0414 385 064.
Further information:
About the Biosignal technology
The Biosignal Furanone technology prevents the colonisation of surfaces by bacteria and is based on natural marine models from the Australian seaweed Delisea pulchra. This seaweed produces a range of compounds called furanones that reduce the ability of bacteria and higher organisms such as barnacles and algae to colonise the seaweed’s surface.
Biosignal has shown in a series of experiments that the colonisation by bacteria such as Pseudomonas aeruginosa and Staphylococcus aureus is specifically interfered with by these furanones.
Biosignal has used this knowledge to produce synthetic furanones which are able to shut down a wide range of mechanisms that bacteria use to build so called biofillms on both inanimate surfaces (such as pipes, ship hulls, membranes and medical biomaterials) and animate surfaces (such as lungs, skin and teeth).
Biosignal is a spin out company from Unisearch, the commercialisation arm of the University of New South Wales. The company focuses on the commercialisation of biomaterials which prevent bacterial colonisation. These biomaterials can be incorporated into a range of products such as contact lenses and other medical devices including catheters.
“Anyone who has worn contact lenses will have suffered from red, sore eyes caused by bacteria. Biosignal’s biomaterials are resistant to colonisation by bacteria and potentially will lead to a new generation of contact lens products,” said Michael Oredsson, CEO and Managing Director.
The company’s proprietary technology is based on anti-microbial compounds called furanones found in a seaweed, Delisea pulchra, which is indigenous to Australia's East Coast. Biosignal's Furanones are naturally derived molecules that can prevent the colonisation by bacteria on all kinds of surfaces, ranging from the human body to a ships hull.
Biosignal’s compounds inhibit the development of pathogenic bacterial virulence traits, such as toxins and enzymes. They also minimise the potential for the development of resistance by bacteria, which is currently a significant problem with existing antibiotics and biocides. Current R&D work indicates that the furanones can be applied to a broad range of product applications, from contact lenses and catheters to marine antifouling paints and household cleaners.
Biosignal has already derived collaborative income from leading domestic and international corporations in the consumer, industrial and human health fields.
The company has extensive intellectual property protection for the technology, having full title to 11 patent families and shared title to three patent families and all associated intellectual property rights, protecting key aspects of its technology. These include the Biosignal furanones themselves, their manufacturing process and product applications of the compounds.
“The interest in Biosignal is testament to our technology and has resulted in investors being given a chance to participate in an Australian biotechnology company with significant potential,” said Mr Oredsson”
“We are looking forward to building a positive relationship with our shareholders, and creating value through further research, commercial collaborations and product launches in the future.”
Contact details
Media: Rebecca Christie and Amy Winter Buchan, ph 9293 2939.
Company: Michael Oredsson, CEO and Managing Director, Biosignal, ph 9385 5510, mob 0414 385 064.
Further information:
About the Biosignal technology
The Biosignal Furanone technology prevents the colonisation of surfaces by bacteria and is based on natural marine models from the Australian seaweed Delisea pulchra. This seaweed produces a range of compounds called furanones that reduce the ability of bacteria and higher organisms such as barnacles and algae to colonise the seaweed’s surface.
Biosignal has shown in a series of experiments that the colonisation by bacteria such as Pseudomonas aeruginosa and Staphylococcus aureus is specifically interfered with by these furanones.
Biosignal has used this knowledge to produce synthetic furanones which are able to shut down a wide range of mechanisms that bacteria use to build so called biofillms on both inanimate surfaces (such as pipes, ship hulls, membranes and medical biomaterials) and animate surfaces (such as lungs, skin and teeth).
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