24 April 2012 BIZ REVIEWsee excerpt below:----"Biota will delist...

24 April 2012 BIZ REVIEW

see excerpt below:

----"Biota will delist from the Australian Securities Exchange after ¬penning a merger agreement with US-listed Nabi Biopharmaceuticals, following in the footsteps of Lucy Turnbull’s Prima BioMed, which listed on the technology-focused Nasdaq index last week.

Prima BioMed was the first ¬Australian company to list on the Nasdaq in seven years. Prima managing director Martin Rogers said the company made the move to increase the investor base in the longer term.

There is great medical innovation in Australia but there can be disconnect between commercialising it in Australia and finding investors to support the business,” Mr Rogers said yesterday. “I’m expecting Biota is thinking the same thing – if they can gain traction with US analysts, they can increase shareholder value.”

Mr Rogers said Prima was not changing anything in its business.

“We are still looking to pursue the ovarian cancer vaccine. We are ¬looking to gain traction with analysts in the US.”

The moves by Prima and Biota are a blow to the ASX, which has been focused on the resources sector, and smaller miners in particular, with a?range of initiatives aimed at heading off international rivals and luring more floats from the booming sector."

http://www.bizreview.com.au/p/business/companies/biota_sees_more_value_in_us_move_9eXi9khvZjCUG0oMSW5osL