Proposed equity raise of up to £6.0 million

Genedrive PLC

19 January 2026

 

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genedrive plc

("genedrive" or the "Company")

Significant indicated support from two major shareholders for an equity raise of up to £6.0 million

genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, is pleased to announce that further to the announcement of 9 December 2025 confirming the terms of a Loan Agreement with the Company's largest shareholder, David Nugent, the Company is today announcing that David Nugent and Robert English, a significant shareholder in the Company, have informed the Company that they intend to subscribe for £1.5m each (£3m in total) in new equity as part of a broader equity financing of up to £6.0m to fund the Company's various growth initiatives (the "Equity Raise"). 

The precise terms and structure of the Equity Raise are to be finalised as soon as possible however the Company intends to include an open offer to existing qualifying shareholders of up to £2m (excess applications to be accepted and in which neither Mr Nugent nor Mr English would participate ahead of other shareholders) and an institutional placing.  Further, Mr Nugent and Mr English have indicated that they are willing to subscribe for a proportion of the £3m utilising the Company's existing share authorities which would provide a near-term extension to its current cash runway, with shareholder approval expected to be sought for the remainder of the Equity Raise.  Finally, the Directors of the Company would intend to invest not less than £100,000 in the Equity Raise. 

Mr. Nugent also intends to convert the £500,000 loan provided to the Company last month into new equity at the issue price of the Equity Raise.  Mr Nugent intends that his beneficial shareholding post the Equity Raise / loan conversion will remain at less than 30% of the Company's voting rights.

The net proceeds of the Equity Raise would be expected to be used as follows:

·    Supporting continued near-term commercialisation & market expansion activities in UK, Europe & Middle East region.

·    FDA 510(k) submission for CYP2C19 anticipated around June 2026, with a 3-4 month review period post submission.

·    Manufacture scale-up and efficiencies.

·    User-led on-market refinements to product usability features.

·    Translation of IP to include laboratory platform CYP2C19 genotyping assay in addition to point of care.

The parties have indicated that they would be willing to proceed with the Equity Raise at, or around, the current share price (including higher) and may also amend the total amount to be raised to ensure that any Equity Raise minimises the level of dilution whilst also providing meaningful additional capital for the Company's future growth plans. 

Dr Gino Miele, CEO of genedrive plc, said: "We very much welcome this indicated support from both David and Robert who are very aligned with the Board's view of the significant growth opportunities ahead for genedrive.  Having two major shareholders indicating significant support for this equity financing and sharing our excitement about the future growth prospects and opportunities is a significant and positive development for the Company's financing plans."

For further details please contact:

genedrive plc		[phone]
Gino Miele: CEO / Russ Shaw: CFO
Peel Hunt LLP (Nominated Adviser and Broker)		[phone]
James Steel / Sohail Akbar (ECM)
Walbrook PR Ltd (Media & Investor Relations)	[phone] or [e-mail]
Anna Dunphy		[phone]

About genedrive plc ( http://www.genedrive.com )

genedrive plc is a pharmacogenetic testing company developing and commercialising a low cost, rapid, versatile and simple to use point of need pharmacogenetic platform for the diagnosis of genetic variants. This helps clinicians to quickly access key genetic information that will aid them make the right choices over the right medicine or dosage to use for an effective treatment, particularly important in time-critical emergency care healthcare paradigms. Based in the UK, the Company is at the forefront of Point of Care pharmacogenetic testing in emergency healthcare. Pharmacogenetics informs on how your individual genetics impact a medicines ability to work for you. Therefore, by using pharmacogenetics, medicine choices can be personalised, made safer and more effective. The Company has launched its two flagship products, the Genedrive® MT-RNR1 ID Kit and the Genedrive® CYP2C19 ID Kit, both developed and validated in collaboration with NHS partners and deployed on its point of care thermocycler platform. Both tests are single-use disposable cartridges which are ambient temperature stable, circumventing the requirement for cold chain logistics. The Directors believe the Genedrive® MT-RNR1 ID Kit is a worlds-first and allows clinicians to make a decision on antibiotic use in neonatal intensive care units within 26 minutes, ensuring vital care is delivered, avoiding adverse effects potentially otherwise encountered and with no negative impact on the patient care pathway. Its CYP2C19 ID Kit which has no comparably positioned competitor currently allows clinicians to make a decision on the use of Clopidogrel in stroke patients in 70 minutes, ensuring that patients who are unlikely to benefit from or suffer adverse effects from Clopidogrel receive an alternative antiplatelet therapeutic in a timely manner, ultimately improving outcomes. Both tests have undergone review by the National Institute for Health and Care Clinical Excellence ("NICE") and have been recommended for use in the UK NHS. The Company has a clear commercial strategy focused on accelerating growth through maximising in-market sales, geographic and portfolio expansion and strategic M&A, and operates out of its facilities in Manchester.

 

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