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VFY - Vitrafy Life Sciences

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Vitrafy Life Sciences Limited (VFY) is an Australian company focued on to become a global leader in cryopreservation by significantly improving the cell survival of cryopreserved biological materials.

Vitrafy has designed and developed an innovative solution for the advancement of cryopreservation, which includes smart devices, a sample quality management software platform, and smart packaging solutions.

Vitrafy’s Cryopreservation Technology has been proven to substantially increase cell survival and functionality when compared to many industry and regulatory standards via internal testing and third‑party validation studies.

Vitrafy is headquartered in Melbourne, Australia. In addition, the Company has operations in Ballarat, Victoria, which provides a fully operational laboratory, engineering, and an ISO 13485‑certified manufacturing facility. As the Company grows, Vitrafy will look to expand into the United States, as well as partner with an outsourced manufacturer to build and develop its smart devices.

It is anticipated that VFY will list on the ASX during November 2024.

vitrafy.com

Vitrafy - Life Sciences - Vitrafy

pioneering technology, preserving life. We’re addressing a vital global need. Every year, thousands of people suffer due to the lack of available healthcare treatments. Cryopreservation is a process that preserves biomaterials for future use by cooling the samples to very low temperatures...
vitrafy.com vitrafy.com
 
from the wires:

"The six-year-old company says it has developed a superior method of cryopreservation that claims to preserve 97.5 per cent of the cells in biological materials like blood and semen at thawing, compared to just 50 per for traditional methods. It began life as a food preservation solution but is targeting three verticals in animal and aquaculture reproduction, blood platelets, and gene therapy.

Huon Aquaculture, the ASX-listed company acquired by Brazilian giant JBS in 2021, helped Vitrafy generate its first revenue last year. It has collaboration agreements with US Army Institute of Surgical Research, according to the term sheet.
 
Listing date26 November 2024 : 11:00 AM AEST ##
Contact detailshttps://vitrafy.com/
Ph: 03 4331 9974
Principal ActivitiesThe main business activity of Vitrafy is the product development and commercialisation of its vertically integrated cryopreservation solution.
Issue PriceAUD 1.84
Issue TypeOrdinary Fully Paid Shares
Security codeVFY
Capital to be Raised$6,000,000
Expected offer close date15 November 2024
UnderwriterBell Potter Securities Limited and Ord Minnett Limited (Joint Underwriters/Lead Managers). Morgans Financial Limited (Co Lead Manager).
 
I can't quite work out how much money to be raised.

above says $6M, but , from AFR:
"Potential investors have been the $25 million to $35 million IPO proceeds would all go back into the company, with no selldown from the existing shareholders.

"Should it succeed in raising $35 million, $11.6 million is to be spent on product development, $9 million on working capital, $7.1 million on revenue or product growth, and about $700,000 on capital expenditure.
 
Dona Ferentes said:
I can't quite work out how much money to be raised.

above says $6M, but , from AFR:
"Potential investors have been the $25 million to $35 million IPO proceeds would all go back into the company, with no selldown from the existing shareholders.

"Should it succeed in raising $35 million, $11.6 million is to be spent on product development, $9 million on working capital, $7.1 million on revenue or product growth, and about $700,000 on capital expenditure.
Click to expand...
$35 million from their prospectus which can be downloaded from their website - i.e. 19 million shares at $1.84.
63.8 million on issue on completion of the offer.
44.8 million held by existing shareholders.
 
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