TruScreen launches capital raise, expands HPV detection in India

TruScreen Group (NZX:TRU) announced a NZD $3 million capital raise via a placement and share purchase plan (SPP), with free attaching options, alongside a distribution agreement with DaltonBio for HPV detection products in India. The capital raise aims to fund strategic initiatives, including expanding its presence in China, distributing Dalton Bio IVD HPV DNA products, executing public cervical cancer screening programs in Vietnam, Zimbabwe, and Uzbekistan, developing public cervical cancer screening sales channels, and entering Indonesian, ASEAN, and Indian markets. The offer consists of a placement to raise NZD $1,780,230 and an SPP to raise NZD $1,220,796, both priced at NZD 0.022 per share. These shares carry attaching options with the same exercise price. In addition, TruScreen has signed an agreement with Hangzhou Dalton Bioscience Limited ("DaltonBio") to distribute DaltonBio's HPV-related In Vitro Diagnostics (“IVD") products in India. The company has also requested and received a trading halt of its securities on the NZX.