Genflow Biosciences PLC - London-based biotechnology firm, which has research facilities in Belgium - raises £500,000 via an allotment to Chief Executive Eric Leire of 62.5 million shares at 0.8 pence each. The net proceeds will be used to advance a proof-of-concept trial evaluating the safety and efficacy of its therapeutic candidate in aged dogs, potentially being also a key translational model for age-related conditions in humans. On allotment, Leire agrees to sell these shares at the same price to an already identified purchaser. Leire says: ‘This investment, without applying any discount, is a strong vote of confidence in our science.’ He adds: ‘With this support, we are well-positioned to accelerate our research and bring us closer to delivering impactful solutions to patients.’
Current stock price: 0.84 pence, down 4.0% in London on Friday
12-month change: down 54%
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