Healthcare intellectual property investor NetScientific said it had participated in an initial public offering by portfolio company PDS Biotechnology. New shares in the company were issued at $2.75 each, raising proceeds of $16.5m. NetScientific said has subscribed for £0.5m worth of the shares. It would hold about 5.99% of PDS's undiluted share capital post the offering. 'With this funding round, PDS Biotech can accelerate its clinical trials programme and progress the company's development of cancer treatment and infectious disease vaccine programmes (including for COVID-19) based on its Versamune platform,' chief executive Ilian Iliev said. 'Securing such significant funding during a volatile period in the economy indicates the increasing market recognition of PDS Biotech as an emerging market leader.'
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