Strategic investment from Seerave Enterprises Ltd
This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.
EDX Medical Group Plc
Strategic investment from Seerave Enterprises Ltd (Seerave Foundation)
May 26, 2023
EDX Medical Group plc (“EDX Medical” or the “Company”), which develops innovative digital diagnostic products and services supporting personalised treatment solutions for cancer, heart disease, neurology and infectious diseases, announces that the Company has received a strategic investment of £350,000 from Seerave Enterprises Ltd (“Seerave Enterprises”), via a subscription of 4,375,000 new ordinary shares of 1p each in the Company (“Ordinary Shares”) at a price of 8p per share (the “Subscription”, “Subscription Shares”).
Seerave Enterprises, is a wholly-owned subsidiary of the Seerave Foundation, a philanthropic non-profit organisation which has a global commitment to improving patient access to personalised cancer treatment. The Seerave Foundation awards traditional grants to academic researchers, and makes selective equity investments into developing companies via its investment arm, Seerave Enterprises, in order to achieve its goals.
This investment in the Company by Seerave Enterprises reflects their shared interest with EDX in enabling the realisation of the economic and human benefits from the personalisation of cancer treatment. The proceeds of the Subscription will be used to support the expansion of EDX’s capabilities in cancer genomics, including collaboration with Seerave research partners.
Application will be made for the Subscription Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on June 2, 2023.
David Rees, Founder of the Seerave Foundation, commented:
“We have long believed that a more holistic approach to cancer diagnosis and management is essential and in EDX we saw a similar vision and understanding. We and our collaborators look forward to working with EDX, identifying new diagnostics and improving the basis on which personal cancer care can be delivered.”
Professor Sir Chris Evans, OBE, founder of EDX Medical, commented:
“We are delighted that Seerave shares our vision for developing precision digital diagnostic products and services that provide biological test data to healthcare professionals to enable personalised medicine and treatments for cancer. We look forward to collaborating with Seerave’s projects and businesses in the diagnostics sector.
“Seerave are sophisticated investors in innovative and exciting cancer projects and companies as well as being a philanthropic supporter of some of the world’s most prestigious institutions. Backing the efforts of our young, patient-focused company with the ambition of changing the way that patients are treated is a very welcome vote of confidence in our strategy. “
Dr Mike Hudson, Chief Executive Officer of EDX Medical, commented:
“This investment signals the beginning of our relationship with Seerave and moves us another step closer to delivering high-quality diagnostic solutions to enable personalised and integrated cancer care”.
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that following the Subscription, it has 285,625,000 Ordinary Shares in issue, each share carrying the right to one vote.
The above figure of 285,625,000 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
The directors of EDX Medical accept responsibility for the contents of this announcement.
For more information, please contact:
EDX Medical PLC: Dr Mike Hudson. Tel: 07812 345 301
Peterhouse Capital Limited: Guy Miller. Tel: 020 7220 9795
Media House International: Ramsay Smith. Tel: +44 (0) 7788 414 856: ramsay@mediahouse.co.uk
Notes for Editors:
About EDX Medical Group
EDX Medical Group Plc develops innovative digital diagnostic products and services, enabling cost effective and timely delivery of personalised treatment for cancer, heart disease, neurology and infectious diseases. The company is listed on the Access Segment of the AQSE Growth Market (TIDM: EDX).
EDX Medical was founded by Professor Sir Christopher Evans, OBE, a medical and life sciences entrepreneur with more than 30 years of experience, together with CEO, Dr Mike Hudson.
By translating clinical insights into pragmatic solutions combining advanced biological and digital technologies, EDX Medical seeks to cost-effectively improve the detection of disease risk and personalise disease management in a timely fashion. Early disease detection and risk prediction is the most impactful way of reducing deaths and lowering the future costs of healthcare provision globally.
EDX Medical operates a molecular biology and diagnostics laboratory in Cambridge, UK, and the 100%-owned subsidiary “Torax Biosciences Ltd” with a satellite operation in Ireland. EDX Medical, provides testing and genomic sequencing services, undertakes quality assurance, conducts research & development (R&D) and has established expertise in the design, development, validation and sourcing of diagnostic testing solutions to ISO 13485. Key laboratory tests performed by the Company have been accredited to ISO 15189 by the United Kingdom Accreditation Service (UKAS).
www.edxmedical.co.uk. https://www.toraxbiosciences.co.uk/
About the Seerave Foundation and Seerave Enterprises Ltd
Seerave’s vision is to help prevent and defeat cancer and other immune-related diseases by enabling personalised modulation of the nutrition-microbiome-immune system axis.
Seerave's mission is to accelerate the generation of scientific evidence and its translation into innovative tools and treatments to enhance cancer care.
Seerave uses a combination of traditional grant donations towards academic researchers as well as equity investments into early-stage start-ups via its investment arm, Seerave Enterprises Ltd. All profits from investments are paid into the Foundation for furtherance of its philanthropic objects. Seerave’s project portfolio is built around international alliances of world-leading institutions, visionary scientists and entrepreneurs. Further information: www.seerave.org
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund