Ondine Biomedical Inc (AIM:OBI) said it has put a solid foundation for the future after a year of significant progress, the highlight of which was the company’s listing in London.
The group raised US$37.7mln from the IPO – cash that will be used to take its patented nasal photodisinfection technology through the clinical trial process.
Photodisinfection is a method of eradicating harmful bacteria before surgery and in doing so minimising complications after a procedure.
Currently, Ondine is in the process of recruiting patients for a phase II study to assess the potential of its Steriwave solution in a tie-up with HCA Healthcare, which will be complete by mid-year.
However, the product has already been deployed in Ondine's native Canada.
"We have put in place a solid foundation for future growth through our unwavering commitment to quality and proven patient outcomes in Canadian hospitals and industrial settings," said chairman Jean Charest.
"These outcomes continue to be published in peer-reviewed journals and the expected results of current and upcoming clinical trials we believe will only add to this list of publications supporting the safety, efficacy, and accessibility of our patented photodisinfection technologies."
The update was provided alongside full-year results, which showed the Vancouver-based company generated US$2.6mln of revenues for the year ended 31 December 2021 and a loss from operations of US$17.5mln. It exited the period with US$29.9mln in the bank.