- Woodford Patient Capital Trust said portfolio company Ultrahaptics had completed a new £35m financing round.

Ultrahaptics, a University of Bristol spin out, had developed a technology that uses high-frequency ultrasound to enable the sensation of touch to be felt in mid-air.

Existing shareholders Woodford Investment, IP Group, Cornes Technology and Dolby Family Ventures participated and were joined by new investors Mayfair Equity Partners and Hostplus.

The raising would support both the company's commercial and R&D activities through its global expansion within virtual and augmented reality markets.

Woodford Patient Capital Trust first invested in Ultrahaptics in October 2015 and, as of the end of October, it represented a 2.79% position in the portfolio.

At 8:14am: [LON:WPCT] Woodford Patient Capital Trust Plc share price was +0.8p at 89.4p

Story provided by