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.
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 8.20p |
Change Today | -0.80p |
% Change | -8.89 % |
52 Week High | 47.00 |
52 Week Low | 8.20 |
Volume | 249,600 |
Shares Issued | 311.86m |
Market Cap | £25.57m |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
No dividends found |
Time | Volume / Share Price |
16:35 | 216 @ 8.20p |
16:35 | 194 @ 8.20p |
16:35 | 22 @ 8.20p |
16:22 | 2,800 @ 8.44p |
16:12 | 20,000 @ 8.20p |
You are here: research