Business
Strategic investment from Seerave Enterprises...
Strategic investment from Seerave Enterprises....
About this update from Edx Medical Group Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n\nThis announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.\n\nEDX Medical Group Plc\n\nStrategic investment from Seerave Enterprises Ltd (Seerave Foundation)\n\nMay 26, 2023\n\nEDX Medical Group plc (“EDX Medical” or the “Company”), which develops innovative digital diagnostic products and services supporting personalised treatment solutions for cancer, heart disease, neurology and infectious diseases, announces that the Company has received a strategic investment of £350,000 from Seerave Enterprises Ltd (“Seerave Enterprises”), via a subscription of 4,375,000 new ordinary shares of 1p each in the Company (“Ordinary Shares”) at a price of 8p per share (the “Subscription”, “Subscription Shares”).\n\nSeerave Enterprises, is a wholly-owned subsidiary of the Seerave Foundation, a philanthropic non-profit organisation which has a global commitment to improving patient access to personalised cancer treatment. The Seerave Foundation awards traditional grants to academic researchers, and makes selective equity investments into developing companies via its investment arm, Seerave Enterprises, in order to achieve its goals.\n\nThis investment in the Company by Seerave Enterprises reflects their shared interest with EDX in enabling the realisation of the economic and human benefits from the personalisation of cancer treatment. The proceeds of the Subscription will be used to support the expansion of EDX’s capabilities in cancer genomics, including collaboration with Seerave research partners.\n\nApplication will be made for the Subscription Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on June 2, 2023.\n\nDavid Rees, Founder of the Seerave Foundation, commented:\n\n “We have long believed that a more holistic approach to cancer diagnosis and management is essential and in EDX we saw a similar vision and understanding. We and our collaborators look forward to working with EDX, identifying new diagnostics and improving the basis on which personal cancer c...