Abingdon Health has completed a £3.3 million share placing at 6 pence per share, marking a significant step in its international growth strategy. The AIM-listed diagnostics developer and manufacturer arranged the fundraising through Zeus Capital via an accelerated bookbuild process.
The proceeds will be directed towards expanding operations in the United States and supporting new revenue-generating projects across its contract development and manufacturing operations. Executive chairman Chris Hand subscribed for 500,000 shares as part of the placing.
Completion of the transaction is subject to shareholder approval at a general meeting on 30 October. The company is also offering a separate retail component to raise up to £200,000.
Dr Chris Hand, Executive Chairman of Abingdon Health plc, commented:
“I am delighted that we can announce the completion of this Fundraising. Our full service CDMO offering and recently established Abingdon Health USA are both resonating well with customers. This investment will allow us to execute larger projects and expand USA manufacturing activities to promote our growth. I would like to thank current shareholders for their tremendous support and welcome new shareholders to the Company.”
The new capital will strengthen Abingdon’s position in the global diagnostics market as it scales production and deepens its presence in key regions.
