Ondine Biomedical Inc (AIM:OBI) has successfully completed a new round of investment bringing in £2.75 million via a share placing and subscription offer.
The bulk of the new money - £2.03 million - was brought in through the placing. The stock was sold at 9p, a 9% premium to the closing price the day before fundraising plans were announced.
A broker option allowing existing investors to top up their equity holding will be kept open until 8 December and could bring in a further £1.25 million.
A number of directors, including chief executive Carolyn Cross, participated in the funding round.
Ondine, a Canada-based biomedical group, said the proceeds would support the "accelerating commercialisation momentum" in Canada, the UK, Spain and Mexico for Ondine's groundbreaking Steriwave photodisinfection technology.