Feedback PLC (LON:FDBK), the medical imaging group, is to raise up to £5.5mln to help develop its Bleepa app.
Bleepa is based on Feedback's Cadran technology and allows medical staff to securely view and discuss high-quality, medical-grade images on mobile devices.
The price of the fundraise is 1p per share, with £5mln raised though a firm placing and up to a further £0.54mln from an open offer.
Specifically, Feedback said it would use the money to build direct sales to NHS trusts and to find strategic partners for new territories.
Tom Oakley, Feedback’s chief executive, said: "At this key moment for our company we are delighted to have generated the support of some of London's leading institutional investors for our vision of Bleepa.
“We have taken Bleepa from concept to fully certified medical device in less than a year and gained traction with two NHS sites.
“This is a remarkable achievement, but it is only the beginning.
“Having established Bleepa we now have ambitious plans to scale Bleepa and get it out to clinicians across the UK and internationally.”
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