EKF Diagnostics invests another £2.5m in Verici Dx

EKF Diagnostics announced on Monday that it had invested in more than seven million placing shares in Verici Dx, for consideration of £2.5m.

The company said its AIM colleague, which develops advanced clinical diagnostics for organ transplants, was raising at least £10m before expenses to continue its development, commercialisation, and laboratory construction activities.

It said it intended that any new shares received as a result of its participation in the fundraise would be distributed to its own underlying shareholders, along with its existing shareholding in the company.

“We are delighted to be able to support Verici Dx, which is developing a leading-edge kidney transplant testing platform aimed at providing clinicians with personalised patient and organ response risk profiles,” said chief executive officer Mike Salter.

“Verici Dx addresses a very important market need and the additional funds raised will accelerate the progress Verici Dx has already made to date towards commercial launch of its two lead products, as well as the development of its third product.”

Salter said that as well as investing for growth in its expanded core business, both organically and through targeted acquisitions, EKF’s stated strategy was to generate value through selected investments in innovative commercial opportunities, such as through its agreement with Mount Sinai Innovation Partners.

“This additional investment adds to our existing shareholding in Verici Dx and we will seek to deliver value to EKF shareholders by distributing the resultant holding to them in due course.”

At 1131 GMT, shares in EKF Diagnostics Holdings were down 8.16% at 44.08p.