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- A share issuance by Ondine Biomedical following completion of patient enrollment in an ICU study
- Details about the milestone payment structure
- Information about the study being conducted at Royal Columbian Hospital
- Some context about ICU infection rates
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Ondine Biomedical issues shares after completing ICU study enrollment
LONDON - Ondine Biomedical Inc. (AIM:OBI) issued 800,457 common shares to the Royal Columbian Hospital Foundation after completing patient enrollment in an ICU nasal photodisinfection trial, the company announced Tuesday.
The share issuance represents the third milestone payment, equivalent to 25% of the C$855,000 total pilot study cost, as outlined in the clinical trial agreement. The shares were issued at 14.50 pence per share, reflecting the closing market price on AIM two business days before the milestone.
The trial, conducted at Royal Columbian Hospital in British Columbia, is examining the use of Ondine’s Steriwave nasal photodisinfection technology in critically ill ICU patients. The study aims to assess feasibility, workflow integration, and patient acceptance of Steriwave as a nasal decolonization tool for infection prevention in intensive care settings.
"We are grateful to the RCH Foundation’s Advancing Innovation in Medicine for its support of our efforts to bring the benefits of a broad spectrum nasal decolonization protection to critical care patients," said Carolyn Cross, CEO of Ondine Biomedical, in the press release.
The newly issued shares will be admitted to trading on AIM on or around July 28, 2025. Following admission, the company’s issued share capital will consist of 444,233,631 shares.
Ondine Biomedical describes itself as a Canadian life sciences company developing light-activated, non-antibiotic infection prevention therapies. According to the company’s statement, ICU hospital-acquired infection rates reach 12-13%, with respiratory pathogens accounting for over 62% of ICU-acquired infections.
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