EDX Medical Group plc (LON:EDX), which develops and supplies innovative digital diagnostic products and services to improve the early detection and treatment of major diseases, has announced that it has raised approximately £2.7m through a subscription for 19,378,563 new ordinary shares of 1p each in the Company at a price of 14p per share. Each Subscription Share subscribed for entitles the subscriber to warrants over 2 ordinary shares in the capital of the Company at an exercise price of 3p per Warrant, exercisable from 20 July 2028 to 19 July 2029.
The net proceeds of the Fundraising will be used to support the expansion of the Company’s new employee health screening service. This service comprises a package of comprehensive biomarker testing panels, general health and family history checks. The service also offers a bespoke follow-up service which includes the provision of highly accurate advanced diagnostic tests if required.
The Company is pleased to report that discussions with respect to definitive contracts are progressing well in relation to the agreements in principle to provide the health screening service to three significant UK employers previously announced on 15 July 2026. Testing is still expected to commence in the last quarter of 2026. Two further large companies have now approached EDX Medical to explore the provision of this new health screening service and discussions are ongoing. The Board remain very excited by the size of commercial opportunity that these discussions represent.
The Company announced in April 2026 that it expected to record revenue for the year ended 31 March 2026 of £1.2 million – the quantum that the Company had invoiced for the provision of diagnostic tests during the financial year. The Company has received the bulk of the invoiced revenues but as processing of these orders ran beyond the end of the financial year, the Board – following discussion with the Company’s auditors – have deferred recognition of £860,000 revenue into the current financial year.
Application has been made for the Subscription Shares to be admitted to trading on AIM (“Admission”) and it is expected that Admission will occur on 28 August 2026.
Professor Sir Chris Evans, OBE, founder of EDX Medical, commented: “Investors in the Company have again demonstrated their confidence in the Company’s strategy to provide class-leading diagnostic tests and fully support the expansion of our employee health screening programme where employers and employees can both reap the benefits of highly accurate tests which assess risks across a very wide range of health conditions and illnesses.”
Total Voting Rights
In accordance with the Financial Conduct Authority’s Disclosure and Transparency Rules, the Company hereby announces that following the Fundraising, it will have 431,373,146 Ordinary Shares in issue, each share carrying the right to one vote.
The above figure of 431,373,146 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
