30th May 2018 12:00
LONDON (Alliance News) - OptiBiotix Health PLC said Wednesday it raised GBP1.5 million through a share placing to fund new development opportunities.
The company placed 2.4 million shares at a price of 62 pence each.
The new shares are expected to be admitted to AIM on Monday. Following this, the company's entire issued share capital will comprise 82.9 million shares.
Although it has enough cash to cover existing projects, the company said it will use the funds raised to support the development of its cholesterol and blood pressure reducing strain as a pharmaceutical product.
Chief Executive Stephen O'Hara said: "The company has received a high level of partner interest in its technology and products across new application areas and territories that have the potential for significant value uplift."
OptiBiotix shares were up 3.6% at 68.40p on Wednesday.
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OptiBiotix Health