AdAlta Ltd. (AU:1AD) has released an update.
AdAlta Ltd. reports a successful March quarter with completion of the Phase I extension study for AD-214, vital for advancing to Phase II trials in treating fibrotic diseases. The company has executed an MoU with SYNthesis BioVentures for developing cellular immunotherapies and secured $3.7 million in funding to further strategic initiatives. On the financial front, AdAlta maintained a healthy cash balance and extended a government loan facility, while continuing discussions for Phase II trial financing.
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