LONDON (Alliance News) – Touchstone Innovations PLC said Friday it has invested GBP2.9 million in a GBP25.0 million fundraising round conducted by Abzena PLC, which completed Friday.
Touchstone said that, following the placing, its holding in Abzena is now nearly 17%. It first invested in the company in 2007, and prior to the placing had a near 20% stake in the company.
“We continue to be enthusiastic supporters of Abzena and are pleased to take part in this placing which will give the company the firepower it needs to capitalise on the growing international demand for its proprietary technologies and services,” said Chief Executive Officer Russ Cummings in a statement.
Shares in Abzena were up 0.8% at 33.00 pence Friday, whilst shares in Touchstone were down 1.6% at 306.39p.
By Hana Stewart-Smith; firstname.lastname@example.org; @HanaSSAllNews
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