(CercleFinance.com) – Alpha MOS recorded a sharp increase on Friday on the Paris Stock Exchange following a capital increase by its subsidiary BOYDSense, which will thus be able to continue the development of its non-invasive blood sugar measurement device.
This fundraising of seven million euros concluded by its medical technology division (‘medtech’) provides 1.5 million euros by conversion of convertible bonds subscribed in 2023, as well as 5.5 million euros in cash contribution.
In a press release, Alpha MOS explains that this capital will give BOYDSense the means to independently continue the development of its breath blood glucose measurement device intended for people with diabetes.
The funds should give it financial autonomy until around mid-2025, which will allow the launch of new clinical studies and the implementation of quality procedures with a view to obtaining the necessary certifications for future authorization.
BOYDSense, which also wants to work on the miniaturization of its medical device, estimates that at least one other round of financing will be necessary before possible marketing in 2027.
After this operation, Alpha MOS will remain the majority shareholder with more than 60% of the capital of BOYDSense.
Following this announcement, Alpha MOS shares jumped by more than 10% on Friday morning on the Paris Stock Exchange before being reserved for an increase.