BRASTER S.A. successfully sold all 2.6 million of the offered shares, obtaining gross PLN 39 million from investors (including the cost of issue). The issue price in the initial Public Offering of shares was set at PLN 15. The obtained funds will allow BRASTER to fully implement the strategy aiming at offering the Braster device for direct sale to women in the second half of 2016.

Retail investors will receive 25.3% and institutional investors 74.7% of F series shares. BRASTER plans to place 3,014,653 shares of A, B, C, D, and E series and 2.6 million shares from the new issue on the main market of the Warsaw Stock Exchange – this will probably happen in June.

"We are very happy that we have managed to persuade more than a dozen institutional investors and scores of retail investors to invest in our Company. Thanks to the issue, we managed to obtain sufficient funds to pursue our strategy. Its key element will be offering the Braster device for sale to women in the second half of 2016. I would very much like to thank everyone who trusted us and decided to invest in BRASTER’s shares. – says Marcin Halicki, President of the Board of BRASTER S.A.

The obtained funds, amounting to PLN 39 million in total, will be allocated to building a technology line, developing the final, commercial version of the device, creating a system that will automatically interpret thermographic examinations received from the Braster device, and completing the work related to placing the product on the market.

"Taking into account the fact that at the turn of the year the price of BRASTER’s shares was approximately PLN 8, it is a great success to have obtained the issue price of PLN 15 and it demonstrates that the assumptions of the strategy presented in December last year are correct. If it was not for the fact that it was positively assessed by investors and we began to implement its assumptions promptly, I am sure that we would not have reasons for satisfaction today." – adds Marcin Halicki.

Before the issue, the largest shareholders of the company included Dom Maklerski Banku Ochrony Środowiska S.A. (DM BOŚ), Ipopema Towarzystwo Funduszy Inwestycyjnych S.A. (Ipopema TFI), Tadeusz Wesołowski, and its founders. The two largest institutional investors (DM BOŚ, Ipopema TFI) and the members of the Board of the Company undertook not to dispose of their shares for a year from the moment of determination of the final price of shares.

BRASTER has developed a unique technology for producing liquid crystal matrices, based on which a prototype of the Braster device for breast cancer diagnostics was created. In November last year, the company presented its new strategy for 2015–2021, according to which the Braster device will be addressed directly to women, and will be placed on the Polish market in the second half of 2016. In 2017, its distribution in Germany and the United Kingdom is projected to begin. A year later the device will be placed on the markets of, among others, other European Union countries and the United States.

BRASTER is cooperating on the project development with the Warsaw University of Technology and the Jagiellonian University, among others. Researchers from the Faculty of Electronics and Information Technology at the Warsaw University of Technology are working on the system for the automatic interpretation of thermographic examinations from the Braster device. This will be a milestone in the process of preparing the device for commercialization, since the automatic interpretation of examinations constitutes one of the pillars of the company’s strategy. Specialists from the Collegium Medicum at the Jagiellonian University will conduct a trial under the INNOMED project which will cover over 2,000 women. The study will enable the comparison of the Braster device’s efficacy (with a new algorithm) in diagnostics and differentiation of lesions in women’s breasts, against standard diagnostic methods. The project has been co-financed by the National Center for Research and Development to the tune of PLN 9.1 million (its total cost will amount to PLN 10.2 million).

BRASTER was established by a group of scientists in 2007. Today it is a unique company on a global scale, with patents for its invention registered in 18 countries already.