director buying, page-7

http://www.proactiveinvestors.com.au/companies/news/39729/cellmid-director-raises-stake-on-market--39729.html (ASX: CDY) non-executive director Martin Rogers has increased his shareholding in the company by 2.6 million shares. Rogers purchased the shares on-market for a total consideration of A$66,136, or $0.025 per share. He now indirectly holds around 5.2 million fully paid shares and 44 million listed options. Last week Cellmid inked a key option agreement with listed Japanese company Fujikura Kasei Co (TYO: 4620), a major supplier of latex particles used in medical diagnostics with a market cap. of ¥12.4 billion (A$130 million), for Cellmid’s proprietary anti-midkine diagnostic antibodies. The deal further validates Cellmid’s midkine diagnostic technology as well as provides an initial fee and upside with further payments at Fujikura’s elect. Significantly, the partnership is a logical fit as Fujikura considers midkine an important part of the commercial expansion of its medical diagnostic business. Under the terms of the option to licence agreement, Cellmid will supply its anti-midkine diagnostic antibodies for validation on Fujikura’s latex platform. Midkine has been extensively validated as an early marker for a range of cancers and has also been shown to be useful in prognosis and disease management. A latex based assay will be highly beneficial for the commercial launch of any midkine diagnostic product, as it is widely used and accepted in pathology laboratories. It is also preferred as it can easily be automated, reducing processing costs. Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.