Business
Share Issuance for ICU Study Submission
Ondine Biomedical Inc. has issued 1,184,504 new common shares at 9.75 pence each, representing the final milestone payment for its Steriwave® ICU pilot study at Royal Columbian Hospital, which concluded with the submission of study results for publication. This share issuance, equivalent to 25% of the C$855,000 total study cost, allows Ondine to preserve cash while advancing its technology into critical care settings, potentially accessing an additional C$4 billion addressable market. The new shares are expected to be admitted to AIM on or around February 27, 2026, bringing the total issued share capital to 519,551,468. Disclaimer*
About this update from Ondine Biomedical, Inc.
[{"type":"text","content":"\n\n25 February 2026\nONDINE BIOMEDICAL INC.\n(\"Ondine Biomedical\", \"Ondine\" or the \"Company\")\nMilestone-based Share Issuance Following Submission of Steriwave® ICU Study Results for Publication\nOndine Biomedical Inc. (AIM: OBI), a global leader in light-activated antimicrobial therapies, announces the issuance of shares for achievement of the final milestone under its clinical trial agreement for the ICU pilot study conducted at Royal Columbian Hospital (\"RCH\") in British Columbia, Canada. The milestone, triggered by the submission of the study results for publication in a leading peer-reviewed journal in critical care medicine, marks the successful conclusion of the world's first ICU-based clinical trial of the Company's Steriwave® nasal photodisinfection system.\nCarolyn Cross, CEO of Ondine Biomedical, commented:\n\"We are deeply grateful to the Royal Columbian Hospital Foundation and it's Advancing Innovation in Medicine research team for their leadership and collaboration on this important study. Launched in early 2025 at Royal Columbian Hospital in Canada, this pilot study was an important step in expanding Steriwave into intensive care units, opening the door to an additional C$4 billion addressable market. This is the first time non-resistance forming photodisinfection has been used in ICU, where multidrug-resistant Gram-negative pathogens remain a critical challenge, and marks an important step in Ondine's mission to advance Steriwave into critical care settings. We look forward to the results being published.\"\nAs part of the agreement with the RCH Foundation's Advancing Innovation in Medicine division, Ondine will issue 1,184,504 new common shares of no par value in the capital of the Company (\"Common Shares\") at an issue price of 9.75 pence per Common Share, being the closing market price of the Company's Common Shares on the AIM Market of the London Stock Exchange Group plc (\"AIM\") two business days preceding this milestone.\nThis share issuance represents the final milestone payment, equivalent to 25% of the C$855,000 total pilot study cost. Milestone payments under the agreement are made in equity in the Company, allowing Ondine to preserve cash while advancing key clinical partnerships that expand the evidence base for its technology.\nAdmission to AIM and Total Voting Rights\nApplication has been...