UK-based diagnostics maker Virax Biolabs files for US IPO

UK-based diagnostics marketer Virax Biolabs (VRAX) has filed to hold a US initial public offering.

The company didn’t specify the size and pricing of the proposed IPO. It hopes to list its shares on Nasdaq under the symbol VRAX. Boustead Securities is serving as lead bookrunner, according to its filing.

Virax is incorporated in the Cayman Islands but has the bulk of its operations in the UK and Hong Kong. The company also operates through subsidiaries in China, Singapore and the British Virgin Islands.

Virax markets medical and in vitro diagnostic products made by third-party suppliers. The company markets diagnostics under the brand name ViraxClear, including COVID-19 tests. It also sells products such as personal protective equipment and infrared thermometers under the brand name ViraxCare.

The company is also developing technology for immunology profiling for viral diseases under the brand name Virax Immune.

Virax reported a net loss of $673K on revenue of $124K for 2021.

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