Arana announces final receipt of $17.7 million from sale of Domantis Limited
Wednesday, 9 January 2008 Sydney, Australia: Biotechnology company Arana Therapeutics Limited (ASX: AAH, AIM: AAHx) today announced that it had received the remaining funds of A$17.7 million arising from the sale of its shareholding in Domantis Ltd in January 2007.
CEO Dr John Chiplin commented “This is the final part of the very successful sale of Domantis to GlaxoSmithKline. Arana’s already strong financial position has been made even stronger by the receipt of these funds. In these times of uncertainty in financial markets, we are in a strong position arising from good financial management.”
“Our financial position is even better than it might have been, as we entered into foreign exchange contracts with a net exchange rate of 0.40; significantly more favourable to today’s spot rates.” Dr Chiplin added. :lol:
AAH
arana therapeutics limited
another 17.7 million
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