- Australian players MGC Pharmaceuticals and ArchTIS limited were under the spotlight following recent crucial developments.
- Biopharma player MGC Pharma announced the acquisition of MediCaNL that is likely to deliver cost savings for the Company.
- Software solutions provider archTIS disclosed significant contract wins in the EMEA markets, indicating considerable expansion in the region.
ASX-listed shares MGC Pharmaceuticals and archTIS have been under the limelight on the back of essential updates released on the ASX.
MGC Pharmaceuticals announced the acquisition of MediCaNL, and archTIS revealed new customers win in the EMEA markets.
The S&P/ASX200 was trading margin lower at AEST 1:31 PM, down 0.19%. While AR9 shares were trading in the red at 1:32 PM AEST, its peers Corum Group Limited (ASX:COO), Adacel Technologies Limited (ASX:ADA) were in the green while Fintech Chain Limited (ASX:FTC) shares were trading flat.
While AR9 shares were trading in the red at 1:32 PM AEST, its peers Corum Group Limited (ASX:COO), Adacel Technologies Limited (ASX:ADA) were in the green while Fintech Chain Limited (ASX:FTC) shares were trading flat.
On that note, let us look at the recent updates of the two Australian penny stocks - MGC Pharmaceuticals and archTIS.
MGC Pharmaceuticals Ltd (ASX:MGC)
Europe-based bio-pharma company MGC Pharmaceuticals Ltd announced the acquisition of 100% issued share capital of MediCaNL Inc., the holding Company of Israeli firm MediCaNL Israel 2019 Ltd.
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MediCaNL provides preclinical and clinical trial services and supports clinical trials through research data gathered from previous studies (Phase I to Phase IV) via several treatment practices.
Once the acquisition is final, MediCaNL Inc would design, handle and run the clinical studies for the Company as per the European Medicines Agency (EMA), ICH Good Clinical Practice Federal Drug Administration, and Israeli health regulations.
- The acquisition would provide significant and instant cost savings to the Company as it aims to begin one Phase III and two Phase II clinical trials on three different products in 2021. Besides, MXC has two Phase I clinical trials scheduled for the H2 CY2021.
- The deal would also help fast-track the process of bringing medicines & products to market by boosting the output capacity, which would make the clinical trial performance as well as design an in-house activity.
The acquisition consideration is AU$6 million in the Company shares according to MXC’s VWAP per share computed on a 10-day volume weighted average price (VWAP) from settlement. 30% of the consideration shares would be issued at settlement, and the outstanding 70% would be issued as below:
- 20% of the outstanding consideration would be provided four months from the settlement date.
- Another 20% of the outstanding consideration would be provided seven months from the settlement date.
- The next 20% of the outstanding consideration would be provided ten months from the settlement date.
- The last 10% of the outstanding consideration would be provided 13 months from the settlement date.
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Stock Information: On 23 April 2021, MXC shares were trading at AU$0.062 (at AEST 1:40 PM), in line with the previous close.
archTIS Limited (ASX:AR9)
Innovative software solutions provider archTIS Limited has won several new customers in Europe and EMEA market. The customer acquisition in EMEA confirms AR9’s go-to-market strategy and the global development plan post the appointment of Sales Director in the EMEA region.
AR9 wins multiple costumers in EMEA (Source: © Ronstik| Megapixl.com)
German technology company selects Kojensi SaaS:
archTIS updated that a German technology company chose Kojensi SaaS to offer a regional collaboration of PROTECTED information with Australian Defence. This customer win shows the way interconnected information sharing exists between Defense and the industries that it serves. This provides AR9 with an opportunity to incur further sale to the organisation that interact with the present defence clients.
Three new clients in the EMEA region:
AR9 acquired three new NC Protect clients in the EMEA region.
- Berufsgenossenschaft für Gesundheitsdienst und Wohlfahrtspflege (BGW) chose NC Protect for safe staff & visitor admission in SharePoint.
- WyzeTalk, which offers digital employee engagement solutions, chose NC Protect for safe Office 365 collaboration.
- European Oncology Biotech Company chose NC Protect for Office 365 & Microsoft Teams data safety.
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Stock Information: On 23 April 2021, AR9 shares were trading at AU$0.275 (at AEST 1:41 PM), down 1.786%.