Cellmid: Raises $6M to fund rollout of SARS-CoV-2 test
- Life science company Cellmid (CDY) has raised $6 million through a share placement
- Approximately 22M shares issued to sophisticated and institutional investors at a price of 22 cents each
- Shareholders will also have the opportunity to take part in a share purchase plan to raise an extra $1M
- Cellmid will also use the money to fund the roll-out of its SARS-CoV-2 diagnostics test and as general working capital
- The test can detect levels of immunoglobulin, which are critical in protecting the body against infections
- After being reinstated back on the ASX, Cellmid has jumped 24.1 per cent and shares are trading for 33.5 cents each
