Ondine Biomedical announced it has raised £5 million (C$9.23 million) through a placing and subscription by issuing 41.67 million new common shares at 12p each to fund its regulatory and commercial scale-up activities.
The Canadian life sciences company, which develops light-activated antimicrobial therapies (photodisinfection), says the net proceeds will be used in priority for New Drug Application preparation including completion of the Phase 3 clinical study report; GMP-compliant commercial-scale production batches and stability studies and engagement with the FDA with a Pre‑NDA meeting anticipated in early Q4 2026; then commercial support, production and operations, and general and administrative costs.
The new issue takes the enlarged share capital to 561.22 million common shares and the 41.67 million new shares represent about 7.4% of that total.
