- Healthcare intellectual property investor NetScientific said it had decided to participate in $12m share issue launched by portfolio company PDS Biotechnology.

NetScientific had agreed to subscribe $0.65m for 0.5m of PDS Biotechnology's common stock, though its interest in the company would fall to 7.18% of its undiluted share capital, down from a current 10.28% holding.

The investment would be funded via a £0.5m loan facility with Beckman, incurring interest of 10% a year on drawn amounts and 3% pa on undrawn amounts, with a 1% arrangement fee.

Beckman was associated with M A Lawson, owner of 29.98% of NetScientific, so the loan was a related-party transaction.

At 1:44pm: [LON:NSCI] Netscientific Plc share price was 0p at 5.25p

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