Byotrol is raising £4m from a placing at 11p a share.
The company has developed a technology that prevents microbes from reproducing. The technology is being trialled by food manufacturers and the Manchester Royal Infirmary.
The shares rose 2p to 16.5p each, which values Byotrol at £8.05m
The cash will be spent on a new research facility and pay for training for sales and marketing staff. It will also provide working capital. Cash balances have been falling because sales have not risen as quickly as hoped.
Byotrol lost £1.1m on turnover of £400,000 in the six months to September 2008. The full interim figures will be published on 24 November.
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