Fundraise of £6.5 million for Verici Dx plc

Singer Capital Markets is delighted to have acted as Nominated Adviser and Sole Broker to Verici Dx on its Fundraise of approximately £6.5 million.

£6.5 million was raised, in aggregate, through the issue of 69,111,111 Placing Shares and 3,111,111 Retail Offer Shares (together, “New Ordinary Shares”). This resulted in raising £6.22 million from the Placing and approximately £280,000 pursuant to an oversubscribed Retail Offer via the Bookbuild Platform.

Background to the Fundraise:

The net proceeds received by the Company from the Fundraise will principally be used for:

• fund additional headcount in bioinformatics to support increased analysis, further validation or utility data and potentially strengthen the positioning of the existing unlicensed portfolio products, Tutivia and Protega;
• increase the market development budget to accelerate product awareness and adoption for existing products;
• develop and validate existing product initiatives by analysing current and additional data from an extended study and/or externally sourced samples; and
• identify prospective new tests complementary to the Company’s current portfolio from its biorepositary.

Sara Barrington, CEO of Verici Dx, commented:

“Verici Dx is grateful to its existing shareholders for their continued support and delighted to welcome those who will be new to the register. Following completion of the Fundraising, Verici Dx will be better capitalised to advance multiple growth initiatives in parallel, with the potential to build greater value in the Company and more quickly than would otherwise be the case. Verici Dx aims to become fully embedded in the transplant ecosystem to assist our customers to improve patients’ lives throughout the transplant journey and this fundraise is a key step in achieving this goal.”

About Verici Dx plc

Verici is a developer of a complementary suite of leading-edge tests forming a kidney transplant platform for personalised patient and organ response risk to assist clinicians in medical management for improved patient outcomes.

Ticker: VRCI
Market Cap: £23.70 million*
Website: Click here

*Market cap as at 20/02/2024