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Concepta raises £2.3mln to help fund international launches of MyLotus

MyLotus was recently launched in the UK and Concepta now wants to launch the fertility testing kit in international territories
mylotus lab
The placing needs shareholder approval

Concepta PLC (LON:CPT) has conditionally raised £2.3mln to help take its flagship myLotus fertility testing kit around the world.

The AIM company recently launched the home-test kit, which allows women to identify their most fertile days, in the UK, where it can be found in Boots’ chemists.

READ: Concepta jumps as it inks deal to sell myLotus in Boots' chemists

But bosses have moved to arm themselves with plenty of cash as they seek similar launches in other territories.

“The past six months have seen the company successfully complete its clinical studies, gain regulatory approval and launch its first myLotus product,” said chairman Matthew Walls.

“Following the recent Boots UK announcement, we will be extending our digital marketing across the EU under our CE certification.”

He added: “It is an exciting time for the company and the placing funds will continue to strengthen and accelerate our commercial plans.”

Chairman and CFO invest

Concepta has raised the money by issuing shares at 3p apiece – a 13% discount to Friday’s closing price.

Major shareholder Mercia Technologies PLC (LON:MERC) took part in the placing, as did chairman Walls and chief financial officer Barbara Spurrier.

Because the new shares will represent almost 29% of the total share capital once issued, Concepta needs approval from shareholders at a general meeting later this month.

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