PureTech Health (PRTC) shares ticked up 3.7% to 399.25p with $160m funding round
Shares in the biotherapeutics firm have gained value after it announced that its founded entity, Akili Interactive, had secured $160m of combined equity and debt financing which will enable the group to accelerate the commercialisation of its flagship treatment.
The funds, which were secured on Wednesday, will help the group to commercialise its EndeavorRx™,the first and only prescription video game treatment, enable the expansion of Akili's core technology to treat acute and chronic cognitive disorders, and drive further research and development of new technologies to treat broader range of conditions.
"Our $160M financing announced today is another significant step in delivering on Akili's mission to reinvent medicine," stated Santosh Shanbhag, Chief Financial Officer at Akili.
Trellus Health (TRLS) shares soars 67.47% to 66.99p on its first day of dealings
Shares in the company, which is focused on commercialising a resilience-based, connected health solution for chronic condition management, got off to a strong start on its first day of dealings as it floated on AIM raising £28.5m at 45p through an oversubscribed fundraising.
Following the placing, Trellus Health, which is focused on commercialising a resilience-based, connected health solution for chronic condition management, with an initial focus on Inflammatory Bowel Disease (IBD), was valued at c.£64.6 million upon its admission.
Commenting on the first day of dealings, Monique Fayad, CEO of Trellus Health said, “Our AIM IPO will enable us to scale our business and technology platform, and in turn inspire hope and significantly improve outcomes for people suffering with chronic conditions.”
Looking ahead, the Company told investors that it expects initial revenue in 2021 through demonstration projects with healthcare payers since its connected care management solution and GRITT behavioral methodology are not currently subject to FDA regulation.
Real Good Food (RGD) shares jumped 18.18% to 3.25p as it receives help from shareholders
Shares in the food business jumped after it confirmed that three major shareholders have all agreed to contribute a total of £0.54m towards the costs related to the disposal of Brighter Foods by reducing the amount of loan notes which are now worth £22m.
The company announced back in April 2021 that it had sold Brighter Foods for an aggregate cash consideration of £43.0 million on a cash free/debt free basis to THG.
Belluscura (BELL) shares rose 8.57% to 55.32p as it makes its market debut on AIM
Following its first day of dealings, the medical device developer hailed the strong support from investors after raising £17.5 million at 45p through an oversubscribed fundraising.
The Group, which develops medical devices focused on lightweight and portable oxygen enrichment technology, is focused on commercialising its product portfolio in this space.
The Directors have stated that around £3m of today’s proceeds will be used to launch the X-PLO₂R, the company’s FDA cleared portable oxygen concentrator ("POC"), while some £8m will be applied to progress Belluscura's wider oxygen enrichment product portfolio.
“We believe our patented X-PLO₂R range of small and discreet portable oxygen concentrators, delivering more oxygen by weight than any other device in their class, will be well-received in the large, expanding supplemental oxygen market,” said CEO, Robert Rauker.
The Restaurant Group (RTN) shares fell 4.43% to 120.6p as UK Government reconsiders lifting restrictions
Shares in one of the UK's largest independent restaurant groups fell on Friday following an announcement from Boris Johnson on Thursday which said that there may be a delay for the lifting of all Covid restrictions on 21 June due to the spread of the Indian variant.
Despite this, The Restaurant Group, which owns the restaurant chain Wagamama, reported on Tuesday that it had seen a “very encouraging” recovery in sales after trading resumed.