Verici Dx plc:

£10 million Fundraise

Singer Capital Markets is delighted to have acted as Sole Bookrunner to Verici Dx plc (VRCI.LN) on its Placing in support of a £10 million Fundraise.

The Placing raised £9.55 million through the Placing of 27,282,492 Placing Shares with existing and new investors at the Fundraise Price of 35 pence. Approximately £5 million of the Placing is EIS/VCT qualifying. The new Placing Shares represent approximately 19.25% per cent. of the existing issued share capital of the Company.

In addition, £0.45 million was raised via a direct Subscription with non-UK investors. 1,288,937 Subscription Shares were subscribed for at the Fundraise Price of 35 pence.

Use of Proceeds

The net proceeds of the Fundraise will be used, together with the Company’s existing available resources, to:

• Maintain momentum on the development of the Company’s third product, Protega™,to maximise the efficiency gains in using existing validation sites set up for the Company’s two lead products, Clarava™ and Tuteva™;

• Carry out planned construction of the Company’s expanded CLIA approved laboratory facilities in Tennessee to support the scale-up of business operations in advance of commercialisation;

• Accelerate the commercialisation of lead products Clarava™ and Tuteva™ through advocacy with clinicians;

• Explore potential growth opportunities including adding new technology (including possible in-licence or acquisition) and Artificial Intelligence (“AI”) capability to support and enhance the use of Verici Dx product tests alongside digital histopathology imagery;

• Develop the Company’s nascent data assets; and

• Support general working capital purposes.

Singer Capital Markets has been acting as Nominated Adviser and Broker to Verici Dx since its successful AIM IPO in November 2020, raising £14.5 million in gross proceeds to progress its clinical and commercial development of its two lead products. The recent Placing raised over £9.5 million in further funds, alongside a direct Subscription with non-UK investors for the balance of the £10 million Fundraise.

Sara Barrington, Chief Executive Officer of Verici Dx, commented:

“In these challenging times we are particularly grateful to be able to access additional funds through the support of both existing and new shareholders. Verici will now focus on executing its strategic growth and commercialisation plans and we look forward to updating the market on our progress in what will be an important year for the Company, as we strive to bring improvements in patient outcomes and healthcare economics to the kidney transplant market.”

About Verici Dx plc

Verici Dx 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. The underlying technology is based upon artificial intelligence assisted transcriptomic analysis to provide RNA signatures focused upon the immune response and other biological pathway signals critical for transplant prognosis of risk of injury, rejection and graft failure from pre-transplant to late stage. The Company also has a mission to accelerate the pace of innovation by research using the fully characterised data from the underlying technology and collaboration with medical device, biopharmaceutical and data science partners.

The foundational research was driven by a deep understanding of cell-mediated immunity and is enabled by access to expertly curated collaborative studies in highly informative cohorts in kidney transplant.

Ticker: VRCI

Market Cap: £50.3 million*

Website: Click here

*As at 14/03/2022