Strategic investment from Boru 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.
Strategic investment from Boru Ltd
30 June 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 £500,000 from Boru Ltd ("Boru") via a subscription of 6,250,000 new ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 8p per share (the "Subscription", "Subscription Shares").
Boru is a private investment company which invests in growth companies on a global basis in order to achieve its financial goals.
The investment in the Company by Boru will be used to support the expansion of EDX Medical's capabilities and support clients providing personalised care for cancer patients in the UK and Europe.
An application has been made for the Subscription Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on, July 5, 2023.
Professor Sir Chris Evans, OBE, founder of EDX Medical, commented:
"We are delighted Boru has made an investment in EDX Medical as they are well-known investors in growth companies they believe are capable of delivering innovative and impactful new products and services. We appreciate their confidence in backing our digital diagnostics strategy."
Dr Mike Hudson, Chief Executive Officer of EDX Medical, commented:
"This investment will help us to accelerate our programme to develop and acquire the key products and technologies required to deliver the benefits of personalised medicine for patients in the UK & Europe."
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 291,875,000 Ordinary Shares in issue, each share carrying the right to one vote.
The above figure of 291,875,000 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.
Contacts:
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EDX Medical PLC |
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Dr Mike Hudson (Chief Executive Officer) |
+44 (0)7812 345 301 mike@edxmedical.co.uk |
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Oberon Capital |
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Nick Lovering (Corporate Adviser) Adam Pollock (Corporate Broking) Mike Seabrook (Corporate Broking) |
+44 (0)20 3179 5300 |
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Media House International |
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Ramsay Smith (Executive Director)
Gary McQueen (Associate Director) |
+44 (0)7788 414856 ramsay@mediahouse.co.uk + 44 (0)7834 694609 gary@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 and characterisation of disease in order to personalise treatment in a timely fashion. Early disease detection and biologically-based personal treatment optimisation is considered to be the most impactful way of reducing deaths and lowering the cost of healthcare globally.
EDX Medical operates a molecular biology and diagnostics laboratory in Cambridge, UK, and the 100%-owned subsidiary "Torax Biosciences Ltd" (www.toraxbiosciences.co.uk) 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).
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