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Polarean Imaging PLC - London-based medical imaging products developer - Raises GBP25.0 million gross proceeds to fund sales and marketing expenses to build its commercial team and infrastructure. Notes "significantly" oversubscribed placing and subscription was for 41.7 million shares at a price of 60 pence per share. Says subscription included a GBP2.5 million investment from Bracco Imaging SpA and company directors, who invested GBP200,000.
"This fundraise represents a significant development for Polarean in the capital markets. The net proceeds of the fundraise will allow us to prepare for commercialisation and launch post approval of our proprietary drug-device combination in the US, the largest healthcare market globally," says Chief Executive Richard Hullihen.
Current stock price: 65.98p
Year-to-date change: down 3.1%
By Zoe Wickens; zoewickens@alliancenews.com
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