Our corporate team has advised Shore Capital (Nomad and joint broker) and Baden Hill (joint broker) on an equity fundraising (Placing, Subscriptions and a Primary Bid offer) which raised £6.15 million for AIM-listed company, Oxford BioDynamics plc, with the fundraising being completed on 21 and 22 August 2023 (following shareholder approval). Our corporate team previously acted for Shore Capital and Baden Hill on a £9.3 million equity fundraising for the same company in October 2022.
Oxford BioDynamics plc (OBD) is a biotechnology company developing targeted clinical diagnostic tests for immune health, based on the EpiSwitch® 3D genomics platform. Following a fundraise in October 2022 to help accelerate the commercialisation of its vital 'EpiSwitch®' product line, this fundraising round is to enable further investment in the next phase of OBD's development.
The Gowling WLG team was led by senior corporate counsel, Jeffrey Elway, who was assisted by trainee solicitor, Nimmi Joseph.
Commenting, Jeff said:
"It is fantastic to have been involved in another equity fundraising in the Life Sciences sector, especially for a company with such a vital input into the ongoing fight against cancer. We look forward to working with them again as they continue to demonstrate investors' continued belief in the value of the company and its products."
Gowling WLG's global corporate practice offer a complete range of services, from domestic and cross border M&A, private equity and joint ventures through to complex reorganisations, providing industry-leading legal support and sector expertise to deliver on clients' objectives.