e-therapeutics has completed its planned £28.9 million fundraise weeks after delisting from the London Stock Exchange – and will now consider an IPO in New York.

The MedTech, which slammed the risk appetite of UK investors in April, cancelled its shares on the junior AIM market in early May after 17 years as a publicly traded company.

It says it will “explore the option of listing on NASDAQ in due course”.

CEO Ali Mortazavi told the BBC recently that the London market is now broken and closed. “Has it reached a crisis point? Unequivocally yes,” he said. 

“In fact, I think that’s a bit of an understatement. I would call it existential risk.”

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e-therapeutics raised the funds by way of a share subscription led by funds managed by existing investors M&G Investment Management and Richard Griffiths. 

The company integrates computational power and biological data to discover life-transforming RNAi medicines.

It said in April that the gross proceeds from the then-proposed fundraise will considerably strengthen its balance sheet.

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