Our Financial Services and Capital Markets team has advised Cavendish Capital Markets Limited (acting as nominated adviser and joint bookrunner) and Oberon Capital, a trading name of Oberon Investments Limited (acting as joint bookrunner) on a conditional fundraising by AIM-traded GENinCode plc, a genetics company focussed on the prevention of cardiovascular disease and the early detection of ovarian cancer.

The fundraising was conducted through an accelerated bookbuild process undertaken by Cavendish and Oberon and conditionally raised proceeds of £4 million. GENinCode is also looking to raise an additional £0.5 million through a separate conditional retail offer. This is the second of GENinCode's fundraisings our team has acted on raising, in aggregate, up to £8.75 million.

The gross proceeds of the fundraising will be used to fund the completion of the GENinCode's US regulatory and reimbursement program whilst driving commercialisation in the US, expanding its activities in the UK and Europe whilst positioning GENinCode on a pathway to breakeven/profitability over the medium term.

Principal Associate in Gowling WLG's Capital Markets team, Alex Davidson, led on the fundraising, supported by Corporate Partner Hugh Maule and Associate Freddie Whittle.

Alex Davidson added: "We are very pleased to be representing Cavendish and Oberon on GENinCode's fundraising, drawing on our expertise in the AIM market, as well as the healthcare and life sciences sectors."

Gowling WLG's Capital Markets team is well-established with an extensive track record over many years advising issuers on a variety of markets, as well as their sponsors, financial advisers, nominated advisers and brokers, in relation to IPOs, secondary fundraises, takeovers and related public company transactions.