Daily Brief Australia: Imugene Ltd, Essential Metals, Carly Holdings and more

In today’s briefing:

Imugene (IMU AU): Got US Patent for Oncolytic Virotherapy- A Crucial Step Forward for US Entry
Essential Metals/Develop Global: Rock Steady With MinRes Support
Carly Holdings Limited – Fleet Expansion Has Driven Revenue

Imugene (IMU AU): Got US Patent for Oncolytic Virotherapy- A Crucial Step Forward for US Entry

Imugene Ltd (IMU AU) got US patent for its oncolytic virotherapy CF33 products, including VAXINIA and CHECKVacc. The patent protects the method of composition and use of CF33 until 2037.
Imugene has appointed two-decade experienced Dr Ron Weitzman as Interim Chief Medical Officer. Dr Weitzman’s expertise in solid-tumor and hematologic malignancies is of particular interest for Imugene.
Imugene is actively recruiting patients for its five ongoing clinical trials. The company has a strong balance sheet holding more than A$150 million in cash, providing a runway through 2025.

At the 20 April Scheme Meeting, Mineral Resources (MIN AU) (with 19.55%) and other shareholders voted against the Tianqi Lithium JV transaction for Essential Metals (ESS AU).
This left Essential in no man’s land until MinRes (presumably) made a move. But on the 3 July, Develop Global (DVP AU) announced a binding Scheme with ESS.
The all-scrip Scheme transaction has the backing of MinRes, which also owns a ~13% stake in Develop. This deal – this time- looks all stitched up.

Carly Holdings Limited (ASX:CL8) operates a vehicle subscription business, which it launched in March 2019, leveraging existing operations, strategic relationships and technology.
Car subscription allows business and retail customers to pay a single monthly fee to access a car for 30 days or more and is an alternative to purchasing or financing a vehicle.
Carly has attracted larger automotive industry businesses as shareholders, with a model that facilitates sales volumes of new vehicles and delivers a new recurring revenue stream for automotive manufacturers and dealers.

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