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LONDON - Cardiogeni PLC (AQSE:CGNI), a UK clinical stage biotechnology company, has secured £150,000 before costs through an Enterprise Investment Scheme (EIS) Advanced Subscription, according to a press release statement issued Thursday.
The Advanced Subscription allows investors to subscribe for ordinary shares at a 25% discount to the issue price at the company’s next funding round raising at least £100,000, or to the closing mid-market share price on January 16, 2026, whichever comes first.
Cardiogeni, founded by 2007 Nobel Laureate Professor Sir Martin Evans, indicated the funds may be used to facilitate a potential dual listing on the AIM Market of the London Stock Exchange (LON:LSEG) during the second half of 2025, subject to market conditions. The proceeds will also provide additional working capital.
The company also provided an update on its joint venture in the United Arab Emirates, established to develop and commercialize Cardiogeni’s medicines in the UAE and Gulf Cooperation Council region. The joint venture is expected to include £20 million in non-dilutive license funding, with £5 million anticipated in the second half of 2025.
Cardiogeni’s lead product, CLXR-001, is an engineered cellular medicine designed to treat heart failure patients during coronary artery bypass grafting surgery. The company reported that CLXR-001 has completed an EU Phase II investigator-sponsored clinical trial, showing statistically significant improvements in heart function, reduction in heart scarring, and quality of life.
The company has received regulatory approval to begin a randomized controlled trial from a European Union member country’s national regulatory authority, with interim data expected within 18 months.
This announcement follows two UK funding rounds with institutional and ultra-high-net-worth investors that the company completed earlier this year.
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