Biomedical company Tissue Therapies (ASX:TIS) has been granted a trading halt by the ASX, pending details of a capital raising.
During the December quarter 2014 the company's operating and investing cash expenditure of $1,745,400 was as expected and consistent with expenditure forecasts.
TIS is well set up to commence commercial operations as soon as CE Mark is granted.
The company said it had strong interest in VitroGro® ECM which continues to be generated as a clinically effective, cost effective and easy to use solution for hard to heal wounds.
The halt will remain in place until the opening of trade on Wednesday 4th February 2015, or earlier if an announcement is made to the market.
