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EDX Medical Group Plc - Placing to raise £1,725,000

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EDX Medical Group Plc · EDX

26/04/2023 14:15

EDX Medical Group Plc - Placing to raise £1,725,000 PR Newswire

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended.  On publication of this announcement via a regulatory information service, this information is considered to be in the public domain and such persons shall therefore cease to be in possession of inside information.

LONDON: April 26, 2023

EDX Medical Group Plc

Placing to raise £1,725,000

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 innovations we are delivering in digital diagnostics, which we believe will make a significant contribution to the development of advanced digital 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.

Application has been made for the 28,750,000 Placing shares to be admitted to trading on or about  3 May 2023.

Total Voting Rights

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that following the placing, it has 281,250,000 ordinary shares of 1 pence each ("Ordinary Shares") in issue, each share carrying the right to one vote.

The above figure of 281,250,000 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

The directors of the EDX Medical accept responsibility for the contents of this announcement.

For more information, please contact:

EDX Medical PLC

Dr Mike Hudson

Tel: 07812345301


Guy Miller

Tel: 020 7220 9795

Media House International,

Ramsay Smith

Tel:  +44 (0) 7788 414856:


Notes for Editors:

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)..

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