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LONDON (Alliance News) - Mercia Technologies PLC said Tuesday it invested GBP500,000 in medical device company Locate Bio Ltd, taking its stake to 6%.
Mercia explained that Locate Bio is a specialist regenerative medicine and medical device company based in Nottingham.
Mercia's investment will be used to expand Locate Bio's existing product portfolio and to fund new product opportunities utilising Locate's IntraStem technology.
Mercia added that the regenerative medicine market has an estimated value of USD20 billion.
Mercia shares were trading marginally down at 30.0 pence each.
