RE: Test not just a covid play26 Jan 2022 16:15
From the placing RNS,,, i LIKE THE LAST FEW SENTANCES ,,,,,If it fails.....!!!
Reasons for the Placing and use of proceeds
The Company intends to use the net proceeds (£2,415,850) of the Placing to enable it to accelerate the development of Paraytec's Covid testing instrument by taking direct control of the final design and engineering packages. In parallel, partners will continue to be sought by Paraytec for licensing and development and/or potential sale. The Board believes this strategy should enable Paraytec to deliver a finished product to market directly if it fails to find a satisfactory deal with a third party.