Ondine Biomedical said it has raised $4 million of new investment from HCA Healthcare subsidiary hInsight-NX.
Ondine said it remained optimistic that a delayed private placement with an individual investor would also occur, though no timeline was provided.
The proceeds from the current round are intended to advance strategic objectives, extending Ondine’s cash runway into early to the fourth quarter of the year.
Ondine, listed on AIM, develops light-activated antimicrobial treatments and aims to leverage this funding to support long-term growth.
The stock was off 7% at 11.86p.