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BUZZ-Australia's AdAlta climbs on securing $1.3 mln funding for unit

Reuters
03-20
BUZZ-Australia's AdAlta climbs on securing $1.3 mln funding for unit

** AdAlta 1AD.AX soars 33.3% to A$0.012, highest since March 4

** Stock set for biggest intraday gain since March 6, 2024

** Biotechnology firm says SYNthesis BioVentures (SYNBV) to invest up to A$2 mln ($1.3 mln) in seed financing in co's special purpose subsidiary AdCella

** Adds SYNBV has the right to invest another A$5.5 mln in Series A funding round for AdCella on top of its seed financing

** 1AD sheds 25% YTD

($1 = A$1.5780)

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))

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