LONDON, April 26, 2023 /PRNewswire/ -- EDX Medical Group plc ("EDX Medical" or the "Company"), which develops innovative digital diagnostic products and services supporting personalised treatment solutions for cancer, heart disease, neurology and infectious diseases, is pleased to announce that the Company has raised a total of £1,725,000 via the issue of 28,750,000 new ordinary shares in the Company, at 6 pence per share ("Placing").
Bridgemere Securities Ltd ("Bridgemere") has invested £1,500,000 in the Placing. Further, Bridgemere has also bought a further 7,720,000 ordinary shares in the market between 20 and 21 April 2023. Bridgemere is now the second largest shareholder in EDX Medical following its investment.
Paul Thandi, CBE, DL, has invested £200,000 in the Placing.
Robert Marshall, founder and executive chairman of Martlet Capital, also increased his shareholding in the Company investing a further £25,000 in the Placing.
Professor Sir Christopher Evans, founder of EDX Medical, said: "We are delighted that experienced investors such as Bridgemere - led by the renowned Steve Morgan - as well as Paul Thandi and Robert Marshall share our vision for the company and are investing in the exciting innovations we are delivering in digital diagnostics. We believe our novel products will make a significant contribution to the development of advanced diagnostic solutions to accelerate the availability of cost-effective personalised treatments for patients with a range of major diseases."
Paul Thandi has been CEO of the NEC Group for 16 years, spearheading its acquisition by Blackstone in 2021 for £800m. He is an experienced board director, investor and philanthropist who supports a number of charitable causes including cancer charities.
Steve Morgan CBE is one of Britain's most astute and successful entrepreneurs who has invested and donated many £100s millions to medical and healthcare projects from his charitable foundations and investment vehicles over the years.
About EDX Medical Group
EDX Medical develops and delivers innovative digital diagnostic products and services for cancer, heart disease, neurology and infectious disease testing, helping to predict disease risk, inform clinical decision-making and accelerate the development of new medicines. The company is listed on the Access 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 more than 30 years of experience in the sector, together with CEO, Dr Mike Hudson.
By translating clinical insights into pragmatic solutions combining advanced biological and digital technologies, EDX Medical seeks to cost-effectively improve the detection of disease risk and personalise disease management in a timely fashion. Early disease detection and risk prediction is the most impactful way of reducing deaths and lowering the future costs of healthcare provision globally.
EDX Medical operates a molecular biology and diagnostics laboratory in Cambridge, UK, and the 100%-owned subsidiary "Torax Biosciences Ltd" with a satellite laboratory in Ireland. EDX Medical provides testing and genomic sequencing services, undertakes quality assurance and has established expertise in the design, development, validation and sourcing of diagnostic testing solutions to ISO 13485. Key laboratory tests performed by the Company have been accredited to ISO 15189 by the United Kingdom Accreditation Service (UKAS).
www.edxmedical.co.uk
https://www.toraxbiosciences.co.uk/
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