Deutsche Bank today announced its appointment as depositary bank for the Level II American Depositary Receipt (ADR) program of Morria Biopharmaceuticals Plc (Morria).
Morria Biopharmaceuticals PLC is a biopharmaceutical emerging growth company focused on the development of non-steroidal, synthetic anti-inflammatory drugs. Morria has developed a class of synthetic drugs termed MFAIDs (Multi-Functional Anti-Inflammatory Drugs) representing a new therapeutic platform for the treatment of a wide range of inflammatory diseases such as allergies and autoimmune diseases. Morria currently has two lead product candidates in its clinical pipeline, both of which have completed first-in-patient clinical studies. MRX-4, a nasal spray for treating allergic rhinitis (hay fever), and MRX-6, a topical cream for treating contact dermatitis (a common type of eczema). Morria’s business strategy is to expand and build a biopharmaceutical business to gradually focus on a spectrum of inflammatory diseases based on its current and upcoming first in class product candidates, that will fill the current unmet need for safe and potent alternatives to steroids.
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 U.S. and Europe.”
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We are delighted to be appointed as the depositary bank for Morria’s ADR program. Deutsche Bank's range of customized ADR-related services will be utilized to assist in enhancing its ADR program visibility and broadening its investor base."About Deutsche Bank Trust & Securities Services Deutsche Bank’s Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of financial structures and transactions. It is a leading depositary for American and Global Depositary Receipts, providing value-added services to companies raising capital in international markets or listing on the New York, NASDAQ, London, Luxembourg, Singapore or NASDAQ Dubai stock exchanges by means of depositary receipts. It also offers both mutual and alternative fund administration and provides securities custody, clearing and agency lending services from a global network spanning more than 30 markets. Additional details are available on www.adr.db.com or www.tss.db.com. This announcement appears as a matter of record only. This announcement has been approved and/or communicated by Deutsche Bank AG New York.