Australia's Starpharma jumps on partnership to develop new company

Starpharma Holdings

08/04/2024 03:19

** Shares of Starpharma  SPL.AX  rise as much as 20% to
A$0.150, set to gain most since Oct.18, 2023, if current trends
hold
    ** Global biopharmaceutical company enters into partnership
with Medicxi to co-found a new company, Petalion Therapeutics,
based in the UK
    ** Starpharma to licence certain intellectual property to
Petalion, in which it will hold 22.5% stake
    ** Stock hits its highest level since Feb. 13
    ** Around 1.8 mln shares change hands, compared with the
30-day average volume of 241,989
    ** Stock has fallen over 26% this year, as of last close,

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))