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Catenae Innovation raises £1mln as coronavirus app roll out continues

The company said its share placing was oversubscribed

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The company’s ground-breaking app also received official recognition for its security with the award of ISO 27001 and Cyber Essentials accreditation

Catenae Innovation PLC (LON:CTEA) has raised £1mln to enhance its technology and build on its business strategy.

The digital technology specialist has sold 50mln shares at 2p each in an oversubscribed placing. The new stock comes with a warrant attached to every two shares bought. The exercise price for warrants is 3p.

In an accompanying business update, Catenae said its coronavirus (COVID-19) testing platform, which securely records and feeds results into Public Health England's database, has been implemented by 18 pharmacies, a major mobile operator and Badminton England.

The company’s ground-breaking app has also received official recognition for its security with the award of ISO 27001 and Cyber Essentials accreditation.

In a statement, Catenae chief executive Guy Meyer said: "We are pleased to have been able to raise capital, which will allow us to accelerate the execution of our growth strategy both through our joint venture, Synovate Global Limited, and independently as Catenae.

"The ISO 27001 and Cyber Essentials accreditations demonstrate the company's commitment to ensuring data protection and GDPR compliance in today's world where customers place increasing importance on being able to trust their service providers. These accreditations sit well within our blockchain ecosystem and further differentiate us from our competitors.”

Quick facts: Catenae Innovation PLC

Price: 3.2 GBX

AIM:CTEA
Market: AIM
Market Cap: £8.75 m
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