Braveheart Investment Group PLC (AIM:BRH) has increased its stake in Phasefocus Holdings to provide working capital after the cell imaging company has gained “substantial momentum” this year.
Having increased its stake in Phasefocus from 44.19% to 48.3%, Braveheart pointed to the firm’s partnerships in the US, Japan and China and its strong order book.
Some 18,750 new ordinary shares were bought for £8 each, Braveheart said on Monday, totalling a £150,000 investment.
This will in turn aid Phasefocus in marketing new technology to help scientists study T-cells, announced earlier this month, and the production of further Livecyte cell imaging devices, Braveheart added.
“Phasefocus is making impressive progress on sales and innovation, making the decision to increase our investment an easy one,” chief executive Trevor Brown commented.
It is anticipated that Phasefocus will pen further orders in the future, for which the investment will help the company prepare, Brown continued.
“The potential realisation value of our interest also continues to grow, reflecting these advances,” he added.