Sekunjalo -- foreign listing for GBT approved
Posted Thu, 12 Apr 2012
Genius Biotherapeutics ("AKA Bioclones"), South Africa's leading Biotechnology company at the forefront of novel technology treatment for cancer and infectious diseases announces that it has received permission from the Minister of Finance of South Africa and the South African Reserve Bank to obtain a primary listing on a foreign stock exchange.
Genius is delighted that the Minister has approved the request by Genius Biotherapeutics ("GBT") to obtain an offshore primary listing on either the London Stock Exchange ("LSE") or NASDAQ, including the externalisation of up-front listing costs amounting to R20 million.
The uniqueness of the biotechnology business and the funding constraints in South Africa make the biotechnology listing important for Genius to commercialise its 23 global patents and enter into clinical trials for overseas markets.
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