24th Sep 2024 16:20
Ondine Biomedical Inc - Vancouver-based company specialising in photodisinfection-based therapies to prevent and treat a broad spectrum of infections - Announces it has agreed to private placement financing in exchange for common shares from a third-party private investor in Canada to support commercial growth. Ondine will issue 22.2 million new common shares, raising CAD5 million - around GBP2.8 million - at 12.5 pence per share.
Chief Executive Officer Carolyn Cross says: "Following our recent announcement of our distribution partnership with Molnlycke Health Care, a world-leading MedTech company that specialises in innovative solutions for wound care and surgical procedures, we are pleased to have this additional capital in support of our expected sales growth."
Current stock price: 6.57p, up 17% in London on Tuesday afternoon
12-month-change: down 29%
By Emily Parsons, Alliance News reporter
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