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Ondine Biomedical Inc. (AIM: OBI), a Canadian life sciences company, is pleased to confirm, further to the announcement made on 3 May 2024, (the "Launch Announcement"), the successful completion of the Placing and Subscription at the Issue Price of 7 pence per New Common Share (the "Fundraising"). The Issue Price represents a premium of approximately 36.6 per cent. to the closing mid-price of the Common Shares on 2 May 2024.

The total gross proceeds of the Fundraising are approximately £3.04 million (C$5.23 million) and the estimated net proceeds are expected to be approximately £2.92 million (C$5.00 million).

The Placing has conditionally raised aggregate gross proceeds of approximately £2.74 million (C$4.71 million) pursuant to the placing of 39,209,992 Placing Shares with new and existing investors. The Subscription has raised further gross proceeds of approximately £0.29 million (C$0.50 million) pursuant to subscriptions received for 4,182,673 Subscription Shares.

The 43,392,665 New Common Shares in aggregate to be issued pursuant to the Fundraising represent approximately 19.1 per cent. of the existing issued share capital of the Company, or approximately 16.1 per cent. of the share capital of the Company as enlarged by the Fundraising.

All shares issued pursuant to the Fundraising will be issued non pre-emptively under the Company's existing authorities, and are expected to be admitted to trading on AIM on or around 9 May 2024.

In addition, the Company will issue 21,696,327 Warrants in conjunction with the Fundraising, on the basis of one Warrant for every two Placing Share(s) or Subscription Share(s) purchased. Each Warrant can be exercised over one Common Share within nine months of Admission, at an exercise price of 15 pence.

Ondine Biomedical Inc shares were up on early Friday afternoon, after the company announced plans to conduct a fundraise to support commercialisation of its flagship antimicrobial therapy.

Shares in the Vancouver-based life sciences company were up 37% at 7.00 pence each in London on early Friday afternoon. The stock is down 63% over the past 12 months.

Ondine announced a proposed fundraise for no less than GBP3 million though a placing and subscription offer of new shares at an issue price of 7p each.

The issue price represents a 40% premium to the company's Thursday closing share price of 5.00p.

The company has already received interest in the subscription offer from the majority of its directors, representing a total of around GBP290,000.

Proceeds from the fundraise will provide general working capital, Ondine said, but also support phase 3 clinical trial preparations as the company accelerates the commercialisation of its Steriwave antimicrobial.

In addition, the GBP3 million will extend Ondine's financial runway to at least the third quarter of 2024, the company said.

Chief Executive Officer Carolyn Cross said: "We are pleased to have the support of existing and new investors through this fundraising which meets our near-term working capital needs and assists our rapid commercial growth rate. This funding will take us forward commercially and further our discussions with industry partners on our clinical, financial, and global distribution objectives."

By Hugh Cameron, Alliance News reporter

6.25-6.9p

We are pleased to have the support of existing and new investors through this fundraising which meets our near-term working capital needs and assists our rapid commercial growth rate. This funding will take us forward commercially and further our discussions with industry partners on our clinical, financial, and global distribution objectives. We believe that our product, Steriwave, is very well positioned to help hospitals meet their infection control objectives, reduce their antibiotic usage and combat AMR in what is expected to be a multibillion-dollar market. Our commercial efforts are benefitting from the growing support for pre-surgical nasal decolonisation by leading organisations, as well as our real-world clinical successes in Canadian hospitals and adoption in other approved territories.

While we are currently focused on nasal decolonisation to prevent healthcare-associated infections, Steriwave is just the first of seven major market opportunities for our platform technology. In due course, pipeline products targeting the treatment of burns, wounds, chronic sinusitis, ventilator-associated pneumonia, and fungal infections will leverage our regulatory filings and the clinical successes related to our nasal decolonisation product."

Https://deal.ig.com/web-platform/#/tearoff/news/20240502-nRSB0841Na

The Company is close to finalising arrangements for the Fundraising which will comprise a placing and a subscription (respectively, the "Placing" and the "Subscription"). The net proceeds of the Fundraising will be used for general working capital, US Phase 3 Clinical Trial readiness and start-up preparation, and to support the Company's rapid sales growth of its Steriwave® nasal decolonisation therapy. A further announcement is expected shortly in relation to the launch of the Fundraising.

Related Party Transactions

On 10 April 2024, substantial shareholder and CEO, Carolyn Cross, advanced a payment of US$160,000 (equivalent to £127,841) to the Company (the "Director Payment"), as a lead indication in the upcoming Fundraising as detailed above. In consideration, Carolyn Cross will be issued shares in the Subscription at the expected issue price on the same terms as all other participants in the Fundraising.

On 26 April 2024, Robert Cross, the husband of Carolyn Cross and substantial shareholder in the Company, advanced C$350,000 (equivalent to £203,856) to the Company (the "Related Party Loan"). The Related Party Loan accrues no interest, is unsecured and is expected to become repayable by mutual agreement between the lender and the Company upon completion of a subsequent fundraising or, at the sole discretion of the Company, may be repaid earlier.

Although not assessed at the time of entry into these arrangements, in aggregate the Director Payment and the Related Party Loan, are deemed to constitute related party transactions for the purpose of AIM Rule 13. Further disclosures are expected to be made shortly in relation to the Company's AIM Rule 13 obligations in respect of these transactions.

Expansion into Intensive Care Units (ICU): Ondine is accelerating its plans to

enter the ICU market to take advantage of interest by hospitals to replace the

commonly used antibiotic mupirocin. Mupirocin, the topically applied

antibiotic used in the nose over 5 days, requires lengthy administration times

and generates antibiotic resistance. Having established a solid safety and

efficacy profile in over 150,000 patients in pre-surgical and industrial

settings, the Company estimates that the ICU application represents an

opportunity to expand the total addressable market for Steriwave

significantly. As ICUs have the highest hospital rates of infection and

mortality, they represent an opportunity to accelerate new hospital adoption

at a point of major unmet need both in terms of improving patient outcomes and

reducing cost of care and length of stay. Further announcements will be made

in due course.

The Company has received indications of support from its founder CEO and

substantial shareholder, Carolyn Cross, and from other existing shareholders,

to provide near-term funding to extend the Company's runway. Discussions are

currently underway with HCA's investment arm, Health Insight Capital, for its

funding support of the key Phase 3 clinical trial. The Company is confident in

its ability to secure longer-term financing to execute on the growth

opportunities described above. Further announcements will be made in due

course.

Keep looking for that tick up

Currently 1.865 - 2p

The past year represented great progress for Trellus Health. Following the

successful completion of our direct-to-consumer model, which provided us with

data to further validate the Trellus Elevate™ program, our strategy has been

focused on securing and maturing larger B2B2C contracts in our core IBD

offering.

Ok am in here

Currentg sp

Medical Oncologist, Professor Frances Boyle AM, Director of the Patricia Ritchie Centre for Cancer Care and Research at Mater Hospital and Professor of Medical Oncology at the University of Sydney, said: "We are very pleased to be the first hospital in Australia to have the Steriwave nasal decolonization system. The pathogens patients carry have long been known to cause hospital-acquired infections, especially for the weak and immunocompromised. Having a rapid non-antibiotic approach to decolonizing the nose – a major source of infection transmission

Mater Hospital, North Sydney has become the first Australian hospital to use Ondine Biomedical's award-winning light-activated antimicrobial technology Ondine Biomedical Inc. (LON: OBI), the Canadian life sciences company pioneering light-activated antimicrobial treatments, announces that Mater Hospital, North Sydney, a private hospital in New South Wales, has become the first Australian hospital to start using its light-activated antimicrobial Steriwave® technology to prevent the spread of hospital-acquired infections (HAIs). Mater Hospital, located in North Sydney and founded in 1906, is part of St. Vincent's Health Australia Group, Australia's largest not-for-profit provider of health and aged care services.

Medical Oncologist, Professor Frances Boyle AM, Director of the Patricia Ritchie Centre for Cancer Care and Research at Mater Hospital and Professor of Medical Oncology at the University of Sydney, said: "We are very pleased to be the first hospital in Australia to have the Steriwave nasal decolonization system. The pathogens patients carry have long been known to cause hospital-acquired infections, especially for the weak and immunocompromised. Having a rapid non-antibiotic approach to decolonizing the nose – a major source of infection transmission – is a benefit to our patients." Orthopaedic Spine Surgeon Dr John Street, Director of the Integrated Ambulatory Spine Program at Vancouver Coastal Health and upcoming President of the Canadian Spine Society, was a keynote speaker at the recent 2024 Spine Society of Australia 35th Annual Scientific Meeting

Https://www.dcconferences.com.au/ssa2024/Keynote_Speakers

Re-rating is justified. Am thinking of 20p initially.

Expect results to be substantial - but realistic

Yes - As usual we remain totally under the radar, but this will not always be the case.

We are now in Australia, so that is something new, and gradually Steriwave will gain recognition throughout the World.

Currently

Not long to wait for results now

Ondine Biomedical Inc on Monday announced that Steriwave has been used for the first time in an Australian hospital.

The Vancouver-based life sciences company said that Mater Hospital in North Sydney has become the first Australian hospital to start using Steriwave for the prevention of hospital-acquired infections.

Medical Oncologist Frances Boyle said: "We are very pleased to be the first hospital in Australia to have the Steriwave nasal decolonization system. The pathogens patients carry have long been known to cause hospital-acquired infections, especially for the weak and immunocompromised. Having a rapid non-antibiotic approach to decolonizing the nose - a major source of infection transmission - is a benefit to our patients."

Steriwave is a light-activated antimicrobial which employs patented nasal photodisinfection technology to eliminate bacteria, fungi and viruses located on human tissues.

According to Ondine, surgical site infections are "one of the most significant complications in cardiac surgery patients and are strongly associated with poorer prognosis".

This comes after Ondine announced earlier this month that Steriwave had been approved by HCA Healthcare UK for use in its healthcare facilities.