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Avacta Group
- BY: Andrew Hore |
- POSTED: 22/12/2011 |
- COMMENTS: Add yours
Diagnostic technology developer Avacta Group is acquiring Aptuscan for £1.48m in shares.
The shares are being issued at 0.65p each. Avacta is also raising £5.13m (£4.83m net) at 0.5p a share. Shares in Avacta fell 0.16p to 0.62p, which values the existing share capital at £10.4m.
IP Group is a major shareholder in Avacta and Aptuscan.
The cash will be used to invest in Aptuscan’s non-antibody affinity protein reagents, accelerate the expansion of the range of tests for the AX-1 animal healthcare diagnostics instruments and develop other new products.
The acquisition will help Avacts to enter the protein microarrays market for high throughput drug/biomarker discovery and new applications for human health diagnostics.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2011_27.pdf
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