BRASTER acquired funds to complete device commercialisation
The owner of the revolutionary technology supporting diagnosis of breast cancer, ends private offer of shares selling 505 734 securities. BRASTER gained PLN 7.6 MM gross form private shares emission, targeted to institutional and private investors. Raised funds will be devoted to terminate works linked to commercialization of the Braster device.
Company offered 505,734 of new shares series H with emission price set at 15 PLN within private offer target to selected investors. During the process of creating of book of demand, number of shares covered by declaration was significantly higher (demand 1.7 times) and was 861 000, what indicates high interest and trust in the company’s project. Final contracts of shares series H acquisitions were set with 8 investment entities.
"The work on commercialisation is performed as planned. Our device will be available in Poland in autumn. The acquired capital will enable us to cover costs of design and industrialisation of the device, which are higher than we expected – we have eventually commissioned a reputable Dutch design company – and costs related to the decision to accelerate the FDA notification, which is necessary for entering the American market," – says President of the Management Board of BRASTER S.A. Marcin Halicki. – "During the offering, we attracted considerable interest among investors. They decided to engage their capital in the Company, showing their appreciation for the significant development of the project over the past several months," – he adds.
Braster will be the world’s first device supporting early detection of breast cancer, addressing directly women. If the product is successfully commercialised and placed on the Polish and international markets, the BRASTER business will start to generate considerable revenue, which will have a strategic impact on the future financial results of the Company.
In June 2015, BRASTER moved from NewConnect to the main market of the Warsaw Stock Exchange, at the same time acquiring funds for implementation of its strategy. Since then, the Company managed to build a unique and globally innovative technology line, develop a final commercial version of the device and complete most of work on IT systems, including an advance system of automatic interpretation of examinations. The device is planned to be placed on the Polish market in October this year.