Update: Rights offer to support expansion
Pacific Edge raised NZ$35.3m in a rights issue, which completed in earlyJuly. Funds are to be used mainly to provide cash for continued
commercialisation of its Cxbladder diagnostics tests in its primary US
market, as well as to fuel international expansion. The company also
recently announced its first User Programme in South-East Asia with the
completion of an agreement with Singaporean hospital Tan Tock Seng
representing the start of its stated intent to capture the significant South-
East Asian market. Pacific Edge also reported full-year results at the end of
May, largely in line with our expectations.
Pacific Edge is engaged in the biotechnology research, development and the commercialization of methods of early detection and treatment of cancers and other genetics diseases.
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