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https://covid-19-diagnostics.jrc.ec.europa.eu/devices/detail/2524
Manchester, UK - 10 September 2021: genedrive plc (LSE: GDR), the near patient molecular diagnostics company, announces a proposed fundraising by way of a placing (the "Placing") to raise up to £6.0 million in aggregate at a price per share of 25 pence (the "Issue Price"). The Company also announces it will be making an Open Offer to Qualifying Shareholders at the Issue Price to raise up to £4.5 million (the "Open Offer", and together with the Placing, the "Fundraising").
The Fundraising is being undertaken at an issue price of 25 pence per share which represents a discount of approximately 40.1 per cent. to the closing price on 9 September 2021 (being the latest practicable date prior to this Announcement). The Fundraising is not being underwritten.
Reasons for the Fundraising and Use of Proceeds
The net proceeds of the Fundraising and the Company's existing cash resources will be directed towards two near-term revenue opportunities being the final development of the Genedrive® COV19 ID Kit, a point of care assay for the detection of SARS-COV-2 ("GDR COV POC") and supporting the commercial roll out of the Company's Antibiotic Induced Hearing Loss test, Genedrive® MT-RNR1 ID Kit ("AIHL test") as well as providing additional funding to cover the Group's other product development, commercialisation and general corporate costs until the AIHL test and GDR COV POC are expected to be able to support the Group's overheads.
The Placing and the Open Offer
The Placing of up to 24,000,000 new Ordinary Shares (the "Placing Shares") at the Issue Price will be subject to the approval of shareholders to be sought at a General Meeting. The proceeds of the Placing (before expenses) will be approximately £6.0 million.
Details of the General Meeting will be set out in the Circular expected to be sent to shareholders after conclusion of the Placing and on or around 14 September 2021. The date of the General Meeting will be confirmed at that time.
Peel Hunt LLP ("Peel Hunt") and finnCap Ltd ("finnCap") are acting as joint bookrunners, and Peel Hunt is acting as nominated adviser, in connection with the Placing. The Placing Shares are being offered by way of an accelerated bookbuild, which will be launched immediately following this Announcement (as defined below), in accordance with the terms and conditions set out in Appendix II to this Announcement.
The timing for the close of the Bookbuild and allocation of the Placing Shares shall be at the discretion of Peel Hunt and finnCap, in consultation with the Company. The final number of Placing Shares will be agreed by Peel Hunt, finnCap and the Company at the close of the Bookbuild and the result will be announced as soon as practicable thereafter. It is envisaged that the Bookbuild will be closed no later than 6:00 p.m. on the date of this Announcement.
In addition, in order to ensure Qualifying Shareholders have the opportunity to participate in the equity financing at the Iss
Aligned with the emerging news of a new circulating COVID-19 viral genotype, we can confirm that our dual gene SARS-CoV-2 test will still detect all known variants of COVID-19, including the new variants released by the UK's COVID-19 Genomics UK Consortium. The Genedrive 96 SARS-CoV-2 Kit is designed to target both the E and N genes of SARS-CoV-2. The new variant involves a mutation in the highly mutagenic S gene, which encodes the spike proteins, and is not one we rely on for detection of the virus.
We have carried out detailed in silico analysis of 155,276 sequences on the GISAID database. The results show that the test is able to detect all published COVID-19 strains with the same high level of accuracy, and demonstrates 100% homology.
#accuratetesting #GDR #genedrive #covid19
Pfizer needs 164 people in their covid19 vaccine trials to be be infected before they have enough data for proper stats. At the moment they have only 94 but this is not enough. It seem that 90% of those infected are in the placebo group. That’s all the info available..
https://www.statnews.com/2020/11/09/covid-19-vaccine-from-pfizer-and-biontech-is-strongly-effective-early-data-from-large-trial-indicate/