From City Beat with James McCullough - Courier Mail Friday...

From City Beat with James McCullough - Courier Mail Friday November 8th Page 44:-

"WOUND healing operation Tissue Therapies is asking investors for another $8n million, enough to paper the company over until long delayed sales in Europe start.

Still they are being wary - almost $1 million will be tucked away for a contingency to replace inventory if the shelf-life of the Brisbane based biotech's substances are not extended. Tissue aims to heal problems such as ulcers.

The fund raising includes a $3 million placement and another $5 million by having existing shareholders buy one share for every nine they own at 21c a share. That underwritten offer is non-renounceable, which usually goes down like a batch of botulism with some mum and dad investors. Tissue shares have seesawed this year, hitting a high of 38.5c in August, but they held up well yesterday to close at 23c.

Fellow local biotech Alchemia has also suffered yo-yo stock syndrome.Shares piled high last Friday after partner Dr Reddy's told of increased marker share in August in the US for their anti-clotting drug."

Regards...............