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Cellmid gains new substantial shareholder as director increases his interest to 6.4%

US-based Dennis Eck recently purchased a $1 million parcel of shares and now holds more than 5.331 million.
Jars with increasing amounts of cash
Cellmid is an Australian life sciences accelerator

Cellmid Ltd (ASX:CDY) has a new substantial shareholder with US-based non-executive director Dennis Eck now holding a 6.4% interest in the life sciences company.

Eck has this month acquired more than 2.63 million shares valued at $1 million, bringing the total number held to more than 5.331 million.

This acquisition follows one last December in which he acquired 2.7 million shares for total value of $1.026 million.

 

Eck’s confidence in the company is shared by other directors who have made recent purchases in a variety of ways.

These include on-market trades and participation in the recent share placement and share purchase plan (SPP).

Managing director and CEO Maria Halasz acquired 263,157 shares valued at for $100,000 while non-executive directors Bruce Gordon and Dr Martin Cross have made purchases valued at $10,000 and $50,400 respectively.

READ: Cellmid’s study confirms effectiveness of lead antibody against rare chronic kidney disease

Cellmid is an Australian life sciences accelerator with lead programs in multiple disease indications.

The company holds the largest and most comprehensive portfolio of intellectual property relating to the novel targets midkine (MK) and FGF5 globally.  

Cellmid, through wholly-owned subsidiaries Lyramid, Kinera and Advangen, develops and markets innovative novel therapies and diagnostic tests for inflammatory and fibrotic diseases, cancer, ischemic diseases of the heart and hair loss.

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