By Michele Maatouk
Date: Friday 07 Oct 2022
LONDON (ShareCast) - (Sharecast News) - Biotech company Oxford BioDynamics said on Friday that it has conditionally raised around £9.1m in a placing to accelerate the commercialisation of a cancer test.
The group, which develops targeted clinical diagnostic tests for immune health based on the EpiSwitch®3D genomics platform, placed just over 45m shares at 20p each. This is a 33% premium to the closing mid-market price on 6 October.
Chief executive officer said: "It is with pleasure that we announce the conditional fundraising today. Subject of course to shareholder approval, the incoming funding will allow us to continue with the near-term commercialisation of our EpiSwitch® platform and in particular to better support our teams' activity to increase the adoption of EpiSwitch® CiRT.
"I am happy to report that the fundraise is at a significant premium to the company's recent share price: by investing at this level, placees have demonstrated their continued belief in the value of the company and its products."
The company launched its flagship product, the EpiSwitch® CiRT (Checkpoint Inhibitor Response Test) for cancer, in February 2022.
It said EpiSwitch® CiRT is a first-of-its-kind precision medicine test that predicts a cancer patient's likely response to Immune Checkpoint Inhibitors (ICIs), including anti-PD-L1 and anti-PD-1 therapies.
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Currency | UK Pounds |
Share Price | 0.45p |
Change Today | 0.13p |
% Change | 38.46 % |
52 Week High | 8.69 |
52 Week Low | 0.31 |
Volume | 41,915,956 |
Shares Issued | 1,957.58m |
Market Cap | £8.81m |
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No dividends found |
Time | Volume / Share Price |
16:29 | 19,600 @ 0.49p |
16:25 | 39,796 @ 0.49p |
16:25 | 208,376 @ 0.48p |
16:19 | 10 @ 0.45p |
16:11 | 56,891 @ 0.45p |
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