Business
Proposed funding round by Paraytec Limited
Proposed funding round by Paraytec Limited.
About this update from Truetide Plc
[{"type":"text","content":"\n \nRNS Number : 3676U Braveheart Investment Group plc 12 July 2018 \n\n12 July 2018\nBraveheart Investment Group plc\n \n(\"Braveheart\" or the \"Company\")\n \nProposed funding round by Paraytec Limited\nBraveheart Investment Group plc (AIM: BRH), the fund management and strategic investor group, notes that Paraytec Limited (\"Paraytec\") has announced that it has engaged an adviser to raise £4 million of equity fundraising in order to fund the further development, regulatory approval and commercialisation of its innovative urine test for the detection and monitoring of bladder cancer. \nAs previously reported, Braveheart holds a 42% aggregate holding in Paraytec's current share capital. Given the level of the Company's existing shareholding, Braveheart does not intend to participate in the equity fundraising, though is fully supportive of the strategic rationale for it to take place. \nTrevor Brown, CEO of Braveheart said: 'Paraytec's bladder cancer test shows excellent results in the laboratory and, once clinical trials are successfully completed, it will address a significant clinical need for a simple and non-invasive test for detecting and monitoring bladder cancer. The funds will be used to complete the development programme and conduct the clinical study required to obtain the necessary regulatory approvals and commercialise the test.'\n \nFor further information: \n\n\n\nBraveheart Investment Group plcTrevor Brown, Chief Executive\n \n\n\nTel: 01738 587555\n\n\n\n\nAllenby Capital Limited (Nominated Adviser and Joint Broker)David Worlidge / Nicholas Chambers\n \n\n\nTel: 020 3328 5656\n\n\n\n\nPeterhouse Corporate Finance Ltd (Joint Broker)Heena Karani / Lucy Williams\n \n\n\nTel: 020 7469 0936\n\n\n\n \n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END IOESFIFIFFASEIW\n ","length":4101,"tagName":"div"}]