Osmetech raises £2 million ongoing expansion plans:
This article was originally published in Clinica
AIM-listed UK company Osmetech has raised £2m ($3.3m) through the issue of new ordinary shares. The company says it now has sufficient funds to support its existing operations through to the launch of its core development product, an infection detection device covering five common vaginal infections. This product is scheduled for launch in the first half of 2005. The funds raised will help London-based Osmetech develop products in the OPTI blood gas analysis line it bought from Roche and introduce them over the next 9-18 months.