Biotech firm CytoMed Therapeutics has priced its shares at $4 each in an IPO in the US while NusaTrip, a unit of Nasdaq-listed Society Pass, has acquired VLeisure in Vietnam.
Cytomed Therapeutics prices shares at $4 apiece in US IPO
CytoMed Therapeutics, a biotech company incorporated in Singapore, has priced its shares at $4 each to raise $9.6 million in an initial public offering (IPO) in the US, according to a company announcement.
The company is offering 2.4 million ordinary shares that are expected to begin trading on the Nasdaq under the ticker symbol “GDTC” on April 14, 2023. The offering is expected to close on April 18.
Incorporated in 2018, CytoMed was spun off from the Agency for Science, Technology and Research (A*STAR), Singapore’s leading research and development agency in the public sector. The company has been developing cell-based immunotherapies for treating cancer. It also engages in generating induced pluripotent stem cells (iPSCs) and developing them into cellular therapeutics using proprietary technologies.
Per the announcement, CytoMed will use the IPO proceeds to advance the clinical development of its product candidates and fund R&D activities as well as manufacturing expansion.
Indonesian travel agency NusaTrip buys Vietnam’s VLeisure
Jakarta-based online travel agency NusaTrip has made its first international move, acquiring B2B hotel platform VLeisure in Vietnam for an undisclosed amount.
The deal will enable NusaTrip, a unit of Nasdaq-listed Vietnamese e-commerce enabler Society Pass, to expand its B2C and B2B businesses in the country while supporting VLeisure’s marketing of hotel management software products to small- and medium-sized hotels.
VLeisure offers travel agents access to over 650,000 registered hotels and provides booking and revenue collection software solutions for smaller hotels.
Its managing director, Phan Le, will serve as the managing director of NusaTrip Vietnam.
NusaTrip said it will continue to acquire online and offline travel agencies in Southeast Asia as it builds a regional travel platform servicing the regional travel market.