Oxford BioDynamics raises £7.35m through placing, subscription and retail offer

(Sharecast News) - Oxford BioDynamics, a precision clinical diagnostics company leveraging its 'EpiSwitch 3D' genomics platform, announced the successful completion of its fundraising initiative on Friday. The AIM-traded firm said it had raised gross proceeds of £7.35m, comprising £7m through the placing and subscriptions announced on 15 January, and an additional £0.35m via the WRAP Retail Offer.

As part of the fundraising, Oxford said it would issue a total of 1,470,002,778 new shares at an issue price of 0.5p each, including 70,002,778 shares through the WRAP retail offer.

The board said the funds would support the company's ongoing efforts to advance its precision diagnostic solutions.

At 1140 GMT, shares in Oxford BioDynamics were down 4.76% at 0.6p.

Reporting by Josh White for Sharecast.com.