Ondine Biomedical, Inc. (GB:OBI) has released an update.
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Ondine Biomedical Inc. has announced a fundraising initiative to generate approximately £3 million through the issuance of common shares and warrants to primarily existing shareholders. The raised capital will be allocated for general working capital, the advancement of US Phase 3 Clinical Trials, and supporting the sales growth of its infection-reducing Steriwave nasal decolonization therapy. The fundraising is pivotal for the company’s expansion and entry into the US market, aiming to address the multibillion-dollar infection control market.
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