Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Instagram Outage Disrupts Thousands of U.S. Users 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
MELBOURNE, Australia, March 08, 2016 -- Gordagen Pharmaceuticals Pty. Ltd., a privately-held company commercializing evidence-based nutraceuticals and pharmaceuticals, has secured a winding-up order from the High Court of Malaysia against Felda Wellness Corporation (FWC), a wholly-owned subsidiary of FELDA, on March 3, 2016.
The winding-up proceedings were initiated on September 14, 2015 due to genuine and admitted debts owed by FWC related to services provided by Gordagen and its subsidiary not being paid as and when they fell due.
After Gordagen made numerous attempts to negotiate an acceptable settlement of the debts during the last 14 months, statutory demands pursuant to Section 218 of the Malaysian Companies Act 1965 were issued by Gordagen’s and GPM’s Malaysian legal counsel, Izral Partnership, to FWC on August 20, 2015. FWC ignored these statutory demands, the debts remained unsettled and Gordagen presented a winding-up petition in the High Court of Malaysia on September 14, 2015.
Dr. Glenn Tong, Gordagen’s Managing Director and Chief Executive Officer, “While Felda Wellness Corporation has been a partner for Gordagen, we believe it was in the best interest of the Company to initiate the Winding-Up Order process. This will enable us to recoup any outstanding monies owed to Gordagen so that we can move forward with the marketing of our nutraceutical products and development of our pharmaceutical products.”
About Gordagen Pharmaceuticals Pty Ltd
Gordagen Pharmaceuticals is a privately-held Australian company developing and commercializing novel supplements and prescription medicines based on natural tocotrienols, found in vitamin E. The Company has developed a novel approach to delivering highly potent tocotrienols to target tissues using its proprietary and patent-pending “melt-then-swallow” delivery technology (MELT3TM). The Company is focusing on tocotrienols with wide therapeutic potential, initially targeting heart health, muscle soreness and exercise endurance.
www.gordagen.com
Media Enquiries: Company Dr Glenn Tong Managing Director & CEO Tel: +61 (0) 412 193 350 Australia Paris Brooke Bt Novo Pty Ltd Tel: +61 (0) 407 715 574 United States David Burke The Ruth Group O: 646.536.7009 C: 917-618-2651
