- Mass spectrometry instrument developer Microsaic Systems said it had put itself up for sale, having failed to garner much interest from investors for an equity raising.

The company said it had launched a strategic review after it completed a market sounding exercise and decided market conditions weren't conducive for a share issue.

The review would involve a broad range of options, including a strategic investment by a business partner or other market participant, or a sale of the entire company.

Microsaic Systems said it had been considering financing options in view of growth opportunities, to ensure it was 'sufficiently capitalised for the opportunities ahead'.

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