Ondine Biomedical to raise funds amid focus on commercialisation

Ondine Biomedical Inc on Monday proposed to raise funds amid its focus on transitioning from peak expenditure on clinical trial costs towards the next phase of regulatory and commercial execution.

The Vancouver-based antimicrobial therapies developer said it is proposing a fundraising of around £10 million at the price of 10 pence per new common share.

The net proceeds are expected to provide Ondine Biomedical with cash runway into early 2028, the firm said.

The capital access window is open since September 30 and will remain open until the announcement of the result of the fundraising, expected on Tuesday. The shares are anticipated to be admitted on Friday.

Chief Executive Officer Carolyn Cross intends to susbcribe for around 10.6 million shares, raising around £1.1 million. Further, some directors have indicated their intention to participate in the subscription for in total 1.1 million shares.

The firm said: "With the Lantern phase 3 study completed and positive topline results announced, Ondine is transitioning from peak expenditure on clinical trial costs towards the next phase of regulatory and commercial execution.

"The company intends to place greater emphasis on commercial growth in markets where [nasal disinfection product] Steriwave is already authorised, including increased direct activity in Canada, continued support of existing distribution channels in the UK, Europe and Mexico, and the development of additional commercial and development partnerships in markets where Ondine does not currently have representation. The current distribution agreement with Molnlycke Healthcare is scheduled for renewal or replacement in September 2027."

Ondine Biomedical shares are currently suspended in London.

Copyright 2026 Alliance News Ltd. All Rights Reserved.