Liquid biopsy company ANGLE PLC (LON:AGL) has raised an additional £2.8mln after it agreed to let an investor subscribe additional shares.
ANGLE raised £12.2mln last week and the investor wanted to take part in that fundraising but “due to the compact timelines” wasn’t able to complete the necessary paperwork in time.
The terms are the same as the original subscription, with the AIM-quoted firm issuing 7.5mln shares at a price of 37.5p each.
"This further subscription will give the company a stronger balance sheet, which will provide flexibility to both target relevant investment and assist the company in pursuing commercial partnerships for both ParsortixTM and the assets to be acquired from Axela,” said chief executive Andrew Newland.
Of the money raised last Thursday, roughly £3.7mln of it went towards the acquisition of some assets from Axela – a Canadian company with intellectual property that complements ANGLE’s Parsortix liquid biopsy platform.