ANGLE PLC (AIM:AGL, OTCQX:ANPCY) has raised £20mln through a placing and retail offer via PrimaryBid, with the med-tech firm’s directors chipping in £130,000 through a management subscription.
The price of 80p was a 14.4% discount on the closing market price yesterday.
Andrew Newland, ANGLE’s chief executive, said: "We are pleased to have received support from both existing shareholders and new investors for this capital raise despite the challenging market conditions.
“The new funds will be used to capitalise on the momentum gained following the ground-breaking FDA clearance of our Parsortix liquid biopsy system in May this year.
“The new funding will allow us to accelerate multiple pathways to commercialisation including clinical use of the system in breast cancer, our growing pharma services business and the establishment of new tests in ovarian and prostate cancer."