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LONDON (Alliance News) - Investment company Limitless Earth PLC on Thursday said it has invested USD500,000 in US-based Chronix Biomedical Inc through convertible preference stock.
Chronix Biomedical is a San Jose, California-based molecular diagnostics company which is developing blood tests to be used for cancer detection and organ transplantation.
Limitless Earth has invested USD500,000 to take a stake of around 0.7% in the company. The investment values Chronix at around USD69 million.
Shares in Limitless Earth were untraded on Thursday morning, having last traded at 4.80 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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