Australia's Adalta rises on collaboration with S.Korean biopharmaceutical co

Adalta

13/10/2022 03:29

** Shares of Australia's Adalta  1AD.AX  rise as much as 6%
to A$0.05, their highest since Sept 16
    ** The clinical stage biotech co announces collaboration
with South Korea-headquartered clinical stage international
biopharmaceutical co GPCR Therapeutics 
    ** Says collaboration to evaluate a new cancer treatment
approach combining beta blockers plus co's CXCR4-inhibiting
ibodies
    ** Adds co has the first option to license and further
commercialise any products resulting from the collaboration
    ** Adalta stock down 37.5% this year, as of last close
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))