Funding
Mediwatch plc, a specialist in urological diagnostics, has raised £347,440 in a placing of 6,042,430 shares. The proceeds will be used for working capital and to finance four feasibility studies for new opportunities.
The are: working with an international company on a joint venture, sharing technology and pursuing a common marketing campaign; a project with a different international medical company, assessing the potential of using its technology with Mediwatch’s bioassays; an opportunity to co-promote a Mediwatch diagnostic with the point-of-care system of another biomedical company in the assessment and treatment of urological problems; and licensing a bladder cancer marker and assessing its use with the Mediwatch BioScan reader system.
Philip Stimpson, Mediwatch Chief Executive, said, “We have identified four opportunities, each of which, if successful, will enable us to extend our range of offerings in the international urology market in different ways. While we are unable to provide details at this stage, each is exciting in its own right.”
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