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BioPorto completes private placing, raising around US$5.5M net

BioPorto’s gross proceeds from the raise amount to DKK 36,748,610, or US$ 5.6 million, the company said in a statement
Scientist with test tube
BioPorto specializes in diagnostics

BioPorto A/S (CPH:BIOPOR), the diagnostics specialist, has now completed its earlier announced private placing of 9.2 million shares, which were fully subscribed and have now been issued, it said.

BioPorto’s gross proceeds from the raise amount to DKK (Danish Krone) 36,748,610, or US$ 5.6 million, the company said in a statement.

READ: Diagnostic company BioPorto taps Christopher Bird as chief medical officer

Total net proceeds are expected to be DKK 36,013,610, which is around US$5.49 million.

The new shares are equivalent to 5.59% of BioPorto’s registered capital prior to the share capital increase and is exempt from the requirement to publish a prospectus.

The new shares will as soon as possible be admitted to trading and official listing on Nasdaq Copenhagen A/S under the ISIN code of the company’s existing shares, it added.

In-vitro diagnostics

BioPorto, based in Hellerup, describes itself as an in-vitro diagnostics company, which provides healthcare professionals a range of diagnostic tests and antibodies.

BioPorto has its headquarters in Hellerup, Denmark and is listed on the NASDAQ Copenhagen stock exchange.

On Wednesday this week, the group said it was bringing onboard a new chief medical officer.

Christopher Bird joins the company from Roche Diagnostics Corp, a medical and scientific affairs organization where he oversaw all clinical education, non-registrational study management and field support operations.

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