Genflow Biosciences PLC (LSE:GENF, OTCQB:GENFF) has topped up its coffers with a £500,000 share subscription to support its proof-of-concept trial.
It is issuing 62.5 million new shares, priced at 0.8p per share.
Genflow told investors that its research in senior dogs, evaluating its gene therapy candidate, has now reached a key milestone, with the randomisation of 24 aged dogs.
The study aims to assess the safety and efficacy of the treatment in improving muscle function and health indicators.
"This investment, without applying any discount, is a strong vote of confidence in our science and our mission to improve ageing through innovative biotechnology,” chief executive Eric Leire.
“With this support, we are well-positioned to accelerate our research and bring us closer to delivering impactful solutions to patients."
Today’s equity issue also includes an issue of 62.5 million share warrants, exercisable at 1.5p for 36 months.