Our Financial Services and Capital Markets team has advised Cavendish Capital Markets, Oberon Capital and Turner Pope Investments on a conditional placing and subscription by AIM‑traded GENinCode plc, a genetics company focused on the prevention of cardiovascular disease and the early detection of ovarian cancer.
The placing was conducted through an accelerated bookbuild process undertaken by Cavendish, Oberon and Turner Pope and, together with the subscription, conditionally raised proceeds of £3.9 million. GENinCode raised a further £0.2 million through a separate conditional retail offer.
The gross proceeds of the fundraising will be used to fund its US commercialisation and scale-up program, its EU and UK expansion program, the costs of the Fundraising and general working capital.
This transaction marks the third fundraising on which the Gowling WLG team has worked with Cavendish on fundraises for GENinCode, helping the company raise an aggregate total of approximately £13 million.
Our team was led by Partner Hugh Maule and Principal Associate Alex Davidson, supported by Corporate Associate Anna Plenderleith and Trainee Solicitor Joel Butcher.
Hugh Maule said: "We are pleased to have supported Cavendish, Oberon and Turner Pope in their support of GENinCode once again as it continues to build momentum across key global markets. This latest fundraising will play an important role in accelerating the company's commercialisation strategy and advancing its mission to improve the early detection and prevention of life‑changing diseases."