Novacyt raised €2.2M to accelerate its technology’s launching in China

novacyt_novaprep

Novacyt announced a private equity placement financing of €2.2M that will be used to accelerate the launch of NOVAprep into China with its distribution partner Leica Biosystems, now scheduled for Q2 2015. This follows the successful financing of €3.1M in December 2014.

This latest financing attracted support from current investors including Alto Invest, and a new investor: Nyenburgh of Amsterdam.

The capital raise was launched immediately following the significant announcement of the distribution partnership with Leica Biosystems for Greater China last month. Launch plans are progressing greatly and it is expected the NOVAprep technology platform will be launched in China during the second quarter of 2015.

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Graham Mullis

Graham Mullis, CEO of Novacyt, commented: “I am delighted with the strong progress that is being made across the business and this is reflected in the solid sales performance in the first quarter of 2015. This additional fundraising has been as a direct result of the accelerated launch plans for Greater China through our distribution partner Leica Biosystems. The pending transformational launch and the strong sales of the first quarter, which are ahead of management expectations, will make 2015 a very busy year for Novacyt. We look forward to updating the market of our progress on the roll-out of NOVAprep in the very near future.

Additionally, the Company is pleased to announce that 2015 sales are ahead of management expectations.

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