Premaitha Health raisis £1.49m in share issue

Developer of a CE-marked non-invasive prenatal screening system, Premaitha Health, announced on Wednesday that it has agreed to issue to Harwood Capital 17 million new ordinary shares of 0.1p, subject to admission to AIM, raising £1.49m at a price of 8.75p.

The AIM-traded firm said following the allotment of the shares, Harwood's holding will represent 6.9% of the issued ordinary share capital of Premaitha.

The board said the new ordinary shares are expected to be admitted to trading on AIM at 0800 GMT on 20 February.

“We are delighted that a fund of Harwood's quality has identified the opportunity in Premaitha,” said chairman Adam Reynolds.

“Their investment follows evidence of further traction with the IONA test in key markets and the recent announcement of our conditional acquisition of Taiwan-based Yourgene Bioscience, which brings expanded market access into Asia - the fastest growing market for non-invasive prenatal testing.”