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Genflow Biosciences Plc ( (GB:GENF) ) has issued an update.
Genflow Biosciences Plc has announced a successful fundraising of £340,000 through the issuance of 40 million new ordinary shares at a 35% discount to the bid price. The shares were allotted to CEO Eric Leire, who will direct their sale to an institution, with the purchaser receiving warrants exercisable over 24 months. This move provides Genflow with essential working capital to continue its research, including a dog study and future clinical trials, while aligning long-term interests through the issuance of warrants.
More about Genflow Biosciences Plc
Genflow Biosciences Plc, founded in 2020 and headquartered in the UK with R&D facilities in Belgium, is a biotechnology company focused on developing gene therapies to slow down the aging process. Their main product, GF-1002, involves the delivery of a centenarian variant of the SIRT6 gene, which has shown promising preclinical results. The company is conducting a 12-month clinical trial on aged dogs and plans to explore GF-1002’s potential in treating MASH, a chronic liver disease.
Average Trading Volume: 7,364,834
Technical Sentiment Signal: Buy
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