5th Feb 2016 09:26
LONDON (Alliance News) - OptiBiotix Health PLC, which is developing products to tackle obesity, high cholesterol and diabetes, on Friday said it has raised GBP1.0 million before expenses from a share placing.
The money was raised through a placing of 1.3 million new shares at 78.0 pence per share, issued to funds managed by Seneca Partners Ltd, a wealth manager and existing institutional investor in OptiBiotix. Shares in OptiBiotix Health were up 0.9% at 84.22 pence on Friday.
Seneca now has a 7.1% stake in the company, comprising 5.5 million shares.
"The funds will be used to further accelerate our development programmes to capitalise on the growing number of opportunities arising in the rapidly evolving microbiome space and build shareholder value," Chief Executive Stephen O'Hara said.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
OptiBiotix Health