LONDON, April 26, 2023 /PRNewswire/ — EDX Medical Group plc (“EDX Medical” or the “Company”), which develops innovative digital diagnostic products and services to support personalized treatment solutions for cancer, heart disease, neurology and infectious diseases, is pleased to announce that the Company raised a total of £1,725,000 through the issue of 28,750,000 new ordinary shares in the Company, on 6 pence per share (“Placement”).
Bridgemere Securities Ltd (“Bridgemere”) has invested £1,500,000 in the Placing. In addition, Bridgemere also purchased 7,720,000 shares of common stock on the market between 20 and April 21, 2023. Bridgemere is now EDX Medical’s second largest shareholder after the investment.
Paul Thandi, CBEDL, has invested £200,000 in the placement.
Robert Marshallfounder and executive chairman of Martlet Capital, also increased his stake in the company, investing a further £25,000 in the placement.
Professor sir Christopher Evansfounder of EDX Medical, said: “We are delighted that experienced investors such as Bridgemere – led by the reputable Steve Morgan – like Paul Thandy And Robert Marshall share our vision for the company and invest in the exciting innovations we deliver in digital diagnostics. We believe our new products will make an important contribution to the development of advanced diagnostic solutions to accelerate the availability of cost-effective personalized treatments for patients with a range of serious diseases.”
Paul Thandy has been CEO of the NEC Group for 16 years and led the acquisition by Blackstone in 2021 for £800m. He is an accomplished board member, investor and philanthropist who supports a number of charities, including cancer charities.
Steve Morgan CB is one of Britain most astute and successful entrepreneurs who have invested and donated many £100 million over the years on medical and healthcare projects from its charitable foundations and investment vehicles.
About EDX Medical Group
EDX Medical develops and delivers innovative digital diagnostic products and services for cancer, heart disease, neurology and infectious disease testing that help predict disease risk, inform clinical decision making and accelerate the development of new drugs. The company is listed on the entry segment of the AQSE Growth Market (TIDM: EDX).
EDX Medical was founded by Professor Sir Christopher Evans, OBE, a medical and life sciences entrepreneur with over 30 years of industry experience, along with CEO, Dr. Michael Hudson.
By translating clinical insights into pragmatic solutions that combine advanced biological and digital technologies, EDX Medical aims to cost-effectively improve disease risk detection and personalize disease management in a timely manner. Early disease detection and risk prediction is the most effective way to reduce deaths and lower future healthcare costs worldwide.
EDX Medical operates a molecular biology and diagnostics laboratory in Cambridge, UK, and its wholly owned subsidiary “Torax Biosciences Ltd” with a satellite laboratory in Ireland. EDX Medical provides testing and genomic sequencing services, performs quality assurance and has built expertise in the design, development, validation and procurement of diagnostic testing solutions to ISO 13485. The core laboratory tests performed by the company are accredited by the UK to ISO 15189. Accreditation Service (UKAS).
www.edxmedical.co.uk
https://www.toraxbiosciences.co.uk/
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SOURCE EDX Medical Plc
