NetScientific PLC’s (LON:NSCI) portfolio company Glycotest has confirmed that it expects to complete the series A fundraising currentyly being undertaken in the second half of this year.
The US-based diagnostics had originally hoped to have all the relevant documentation signed off by the end of this month but admitted that now looks unlikely.
NetScientific expects the delay to lead to an increase in Glycotest’s £0.5mln expected spend this year, although overall spend will still remain under £1mln.
Shares were unchanged at 49p on Monday morning.