Calculus et al. invest £7.25m in Premaitha

Calculus committed £1m in exchange for a minority stake in the business. The shares were priced in the private placing at 11 pence apiece.

The fresh capital will be used by Premaitha to develop its product base in the non-invasive pre-natal test area. The company also plans to expand across Europe.

Furthermore, Premaitha intends to expand into the areas of cancer detection and personalised medicine.

The listing on AIM gave Premaitha a market cap of £19m.

Company
Founded in 2013 and headquartered in Manchester, Premaitha develops molecular diagnostic products, with its first product, Iona, being a non-invasive in-vitro diagnostic product for pre-natal screening.

The Iona test is based on analysis of the expectant mother's blood and is designed to determine the risk of whether a pregnant woman's unborn child will have Down's syndrome or other genetically carried conditions.

People
Stephen Little is the CEO of Premaitha. Alexandra Lindsay is an investment director at Calculus.

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