LONDON (Alliance News) - IXICO PLC Wednesday said it has entered into a conditional agreement to buy Optimal Medicine for GBP1.5 million in shares, at an issue price of 49 pence each.
Optimal Medicine develops web-based digital healthcare products that aid clinical decision making, and the acquisition gives IXICO a foothold in the US, the brain health company said.
"The acquisition of Optimal Medicine helps us to accelerate our overall strategy towards IXICO becoming a leader in digital healthcare for brain health. Like IXICO, Optimal Medicine specialises in brain health, in particular in ADHD and behavioural health, and therefore expands our expertise into new disease areas," Chief Executive Derek Hill said in a statement.
IXICO also said it intends to raise GBP2.7 million through the issue of another 8.9 million shares priced at 30.5p each, and has granted Peel Hunt the broker option to raise up to a further GBP100,000 through the issue of 327,868 broker option shares at the same price.
The Invesco Funds, Imperial Innovations Group PLC and IP2IPO all intend to participate in the placing, IXICO added.
Shares in IXICO were trading up 2.9% at 32.92 pence early Wednesday.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
