MEDLAB CLINICAL LIMITED ASX Announcement
Medlab Clinical Appendix 4C and Business update - Q3 2022
SYDNEY, April 13, 2022 - Medlab Clinical Ltd (ASX:MDC) (Medlab, the Company), an Australian biotech using delivery technology to enhance medicines effectiveness is pleased to provide a business update and quarterly cash flow report for the period ended 31 March 2022 (Q3 2022).
Please view the attached investor presentation deck.
Key Financial highlights:
• Cash receipts from customers amounted to $0.9m for the quarter, reflecting improved operating revenues of $1.3M
• The month of March cash burn was $0.3M with the March quarter cash burn at $2.6M
• Cash position as at end of March 2022 was $8.6M, with sufficient cash and significant global partnering opportunities anticipated to generate revenue, supporting future cash flow
• Confirmed ~$5M cash receipts from revenues for balance of calendar year 2022, excluding any potential partnering deals Medlab is currently working on
• 70+ partnering engagements to which five partnership agreements are in discussions/term sheet generation
Business Operations Update
1. As was recently announced, NanoCBD™ is ready to be exported to UK for compassionate use. Medlab is currently awaiting final import approval from the UK government, with all other necessary licenses granted. Doctors' distribution network established.
2. NanaBis™ (Investigative cannabinoid program for patients with cancer bone pain) has shown significant success in improving patient outcomes. With just over 1,000 Australian patients under clinical management we continue to see positive signals that demonstrate pain reduction and improvements in quality of life. Progress has been made in preparing the US FDA (Food and Drug Administration) application
3. The final granting of global patents for NanoCelle in 43 countries ensures exclusivity and protection of intellectual property for 15 years. This achievement has generated particular interest from pharmaceutical companies, demonstrated by the very positive commercial prospects that emerged at the recent UK Jefferies Biotech Health Conference
4. Under an accelerated regulatory model NanoCBD™ would be approved for over-the-counter Australian pharmacy sales. Advanced joint venture discussions are currently underway with a key significant distribution/manufacturing pharmaceutical company to expand the availability of NanoCBD™, with potential for globalisation
5. The establishment of joint ventures with both the UNSW and Macquarie University together with a government grant for preliminary research into NanoCelle® as a means of delivering RNA vaccines nasally is a development in Medlab's penetration of the vaccine space
6. Post commercial deal completion with The Cann Group (ASX:CAN), Medlab has commenced charging a monthly fee for service to educate and support physicians for selected Cann's cannabis products to complement the existing Medlab portfolio
(NanaBis™ and NanoCBD™)
4.7C.3 Ruling
Pursuant to ASX Listing Rule 4.7C.3, the Company advises that during the quarter, payments made to related parties and their associates in the aggregate amount of $0.2M. As already noted in item 6 of Appendix 4C, these payments were for Director fees and wages, tax consultancy services by Hall Chadwick (Director-related entity of Mr Drew Townsend) and wages to related parties of Dr Sean Hall (CEO).
- ENDS -
Medlab Clinical Limited, 66 McCauley St, Alexandria NSW 2015
P: +61 2 8188 0311 F: +61 2 9699 3347 W:www.medlab.co
Authorisation & Additional information
This announcement was authorised by the Board of Directors of Medlab Clinical Limited.
About Medlab Clinical:
Medlab Clinical LTD (ASX:MDC) is pioneering the development and Commercialisation of a delivery technology, allowing for enhanced medical properties, including increased efficacy, safety, patient compliance and stability.
Medlab's pipeline comprises several small and large molecules from repurposing generic medicines to enhancing the delivery of immunotherapies.
Patented lead drug candidate NanaBis™ has been developed for cancer bone pain as a viable alternative to opioid use.
Data to date, strongly suggests NanaBis™ may be equally effective in non-cancer neuropathic pain.
NanoCelle®, the patented delivery platform is wholly owned by Medlab and developed in Medlab's owned OGTR
Registered Laboratory.
NanoCelle® is designed to address known medication problems, addressing global unmet medical needs. Medlab operates in Australia (Head Office), USA, and the UK.
For more information, please visitwww.medlab.co
Medlab - better medicines, better patient care
For further information contact:
Mr. Kerem Kaya
CFO Medlab Clinical Ltd T: +61 2 7201 0096kerem_kaya@medlab.co
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Rule 4.7B
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Name of entity
MEDLAB CLINICAL LIMITED
ABN
51 169 149 071
Quarter ended ("current quarter")
31 March 2022
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 |
| 889 (559) - (83) (244) (1,483) (860) - 3 (9) - 201 (343) (86) | 5,688 (2,092) - (579) (664) (5,123) (3,095) - 10 (37) - 3,343 (2,660) (363) |
(2,574) | (5,571) |
2.
Cash flows from investing activities
2.1
Payments to acquire or for:
(a) entities
(b) businesses
(c) property, plant and equipment
(d) investments
- - (9)
-
- (15)
-
-
| - - - - - - - - - | - - - - - - - - - |
0 | 0 |
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 |
| - - - - - - - - - - - | - - - - - - - - - - - |
(9) | (15) |
Consolidated statement of cash flows | Current quarter $A'000 | Year to date (9 months) $A'000 | |
4. 4.1 4.2 4.3 4.4 4.5 4.6 | Net increase / (decrease) in cash and cash equivalents for the period Cash and cash equivalents at beginning of period Net cash from / (used in) operating activities (item 1.9 above) Net cash from / (used in) investing activities (item 2.6 above) Net cash from / (used in) financing activities (item 3.10 above) Effect of movement in exchange rates on cash held Cash and cash equivalents at end of period | 11,220 (2,574) (9) - (2) | 13,432 (5,571) 810 - (37) |
8,634 | 11,220 |
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter $A'000 | Previous quarter $A'000 |
| 8,634 - - - | 11,220 - - - |
8,634 | 11,220 |
6. Payments to related parties of the entity and their associates | Current quarter $A'000 |
- Director and associates fees/wages |
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Medlab Clinical Ltd. published this content on 12 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 April 2022 22:34:05 UTC.
