Yourgene Health restructures financing arrangement with Life Technologies
Source - SMW
Molecular diagnostics group Yourgene Health said it had restructured its financial and commercial relationship with Life Technologies.
Life Technologies had exercised warrants at 9.2p per share, giving it a 9% stake in the company.
It had also agreed to write off a remaining £12.7m of loans, leaving the company substantially debt free.
The write off was subject to Yourgene paying a 'modest' commission on sales within Southeast Asia, up to a cap of £6.5m.
Chief executive Lyan Rees said the restructure placed the company in a stronger position to capitalise on 'the significant global non-invasive prenatal testing opportunity'.
At 9:48am: (LON:YGEN) share price was +0.75p at 13.75p