Drug company Morria to deposit with Deutsche 10 December 2012New York and London Reporter: Georgina Lavers
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Deutsche Bank will act as depositary bank for the Level II American Depositary Receipt (ADR) programme of Morria Biopharmaceuticals.
Morria is a biopharmaceutical emerging growth company focused on the development of non-steroidal, synthetic anti-inflammatory drugs.
Morria currently has two lead product candidates in its clinical pipeline: a nasal spray for hay fever, and a topical cream for eczema.
Mark Cohen, executive chairman of Morria said: “This ADR listing will allow for broad and diversified investor exposure within the US with potentially greater liquidity. It also provides us with a flexible mechanism for raising capital in the future.
"We are pleased to be working with Deutsche Bank which has an excellent track record in healthcare finance and strong relationships with investors in both the US and Europe.”
Akbar Poonawala, head of global equity services at Deutsche said: “Our range of customized ADR-related services will be utilised to assist in enhancing its ADR programme visibility and broadening its investor base."
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