Omega Diagnostics raises funds for research and development

Medical company Omega Diagnostics Group has raised four million pounds through the placement of over 23m shares which will be used to fund the development of new products.

Medical company Omega Diagnostics Group has raised four million pounds through the placement of over 23m shares which will be used to fund the development of new products.

The company, focused on developing diagnostics for allergies, food intolerances and infectious diseases, said it intends to use the proceeds for its allergy instrumentation strategy and to fund a final instalment due under the patent licence agreement with medical equipment company IDS.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.