EDX Medical Group Plc Strategic investment from Seerave Enterprises Ltd

 
TIDMEDX 
 
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. 
 
                             EDX Medical Group Plc 
 
    Strategic investment from Seerave Enterprises Ltd (Seerave Foundation) 
 
May 26, 2023 
 
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, announces that the Company has received a strategic investment of £ 
350,000 from Seerave Enterprises Ltd ("Seerave Enterprises"), via a 
subscription of 4,375,000 new ordinary shares of 1p each in the Company 
("Ordinary Shares") at a price of 8p per share (the "Subscription", 
"Subscription Shares"). 
 
Seerave Enterprises, is a wholly-owned subsidiary of the Seerave Foundation, a 
philanthropic non-profit organisation which has a global commitment to 
improving patient access to personalised cancer treatment. The Seerave 
Foundation awards traditional grants to academic researchers, and makes 
selective equity investments into developing companies via its investment arm, 
Seerave Enterprises, in order to achieve its goals. 
 
This investment in the Company by Seerave Enterprises reflects their shared 
interest with EDX in enabling the realisation of the economic and human 
benefits from the personalisation of cancer treatment. The proceeds of the 
Subscription will be used to support the expansion of EDX's capabilities in 
cancer genomics, including collaboration with Seerave research partners. 
 
Application will be made for the Subscription Shares to be admitted to trading 
on the AQSE Growth Market and admission is expected to become effective on June 
2, 2023. 
 
David Rees, Founder of the Seerave Foundation, commented: 
 
 "We have long believed that a more holistic approach to cancer diagnosis and 
management is essential and in EDX we saw a similar vision and understanding. 
We and our collaborators look forward to working with EDX, identifying new 
diagnostics and improving the basis on which personal cancer care can be 
delivered." 
 
Professor Sir Chris Evans, OBE, founder of EDX Medical, commented: 
 
"We are delighted that Seerave shares our vision for developing precision 
digital diagnostic products and services that provide biological test data to 
healthcare professionals to enable personalised medicine and treatments for 
cancer. We look forward to collaborating with Seerave's projects and businesses 
in the diagnostics sector. 
 
"Seerave are sophisticated investors in innovative and exciting cancer projects 
and companies as well as being a philanthropic supporter of some of the world's 
most prestigious institutions.  Backing the efforts of our young, 
patient-focused company with the ambition of changing the way that patients are 
treated is a very welcome vote of confidence in our strategy. " 
 
Dr Mike Hudson, Chief Executive Officer of EDX Medical, commented: 
 
 "This investment signals the beginning of our relationship with Seerave and 
moves us another step closer to delivering high-quality diagnostic solutions to 
enable personalised and integrated cancer care". 
 
Total Voting Rights 
 
In accordance with the Financial Conduct Authority's Disclosure and 
Transparency Rules, the Company hereby announces that following the 
Subscription, it has 285,625,000 Ordinary Shares in issue, each share carrying 
the right to one vote. 
 
The above figure of 285,625,000 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 EDX Medical accept responsibility for the contents of this 
announcement. 
 
For more information, please contact: 
 
EDX Medical PLC: Dr Mike Hudson. Tel: [phone] 
 
Peterhouse Capital Limited: Guy Miller. Tel: [phone] 
 
Media House International: Ramsay Smith. Tel:  [phone]: 
[e-mail] 
 
Notes for Editors: 
 
About EDX Medical Group 
 
EDX Medical Group Plc develops innovative digital diagnostic products and 
services, enabling cost effective and timely delivery of personalised treatment 
for cancer, heart disease, neurology and infectious diseases. 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, 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 operation in Ireland.  EDX Medical, provides testing and genomic 
sequencing services, undertakes quality assurance, conducts research & 
development (R&D) 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). 
 
www.edxmedical.co.uk. https://www.toraxbiosciences.co.uk/ 
 
About the Seerave Foundation and Seerave Enterprises Ltd 
 
Seerave's vision is to help prevent and defeat cancer and other immune-related 
diseases by enabling personalised modulation of the nutrition-microbiome-immune 
system axis. 
 
Seerave's mission is to accelerate the generation of scientific evidence and 
its translation into innovative tools and treatments to enhance cancer care. 
 
Seerave uses a combination of traditional grant donations towards academic 
researchers as well as equity investments into early-stage start-ups via its 
investment arm, Seerave Enterprises Ltd. All profits from investments are paid 
into the Foundation for furtherance of its philanthropic objects. Seerave's 
project portfolio is built around international alliances of world-leading 
institutions, visionary scientists and entrepreneurs. Further information: 
www.seerave.org 
 
 
 
END 
 
 

(END) Dow Jones Newswires

May 26, 2023 05:14 ET (09:14 GMT)