Australian medical tech firm Osteopore jumps on China deal

Osteopore

25/07/2023 02:34

** Shares of Osteopore  OSX.AX  up 5% at A$0.084, set for
best day since June 23 if gains hold
    ** Medical technology co says it has signed a non-binding
term sheet with biopharmaceutical co CellHeal Pty
    ** Says term sheet to negotiate licensing agreement to set
up manufacturing facilities, attain regulatory approvals and
commercialise co's regenerative medicine technology applications
in China
    ** Adds CellHeal commits to raising approximately A$10 mln
($6.74 mln) to strengthen co's commercialisation efforts in
China
    ** OSX stock at its highest level since June 28
    ** Stock down ~46% YTD, as of last close
    
($1 = 1.4839 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))