May 18 (BusinessDesk) – Caldera Health, a New Zealand biotech company working on a gene-sequencing replacement for the world’s most widely used prostate cancer test, is seeking new investors to complete a $2 million capital raising to finish clinical studies and put the research in front of potential commercial partners.
Auckland-based Caldera has attracted $5.93 million of investment since being incorporated in 2009, made up of $5.4 million from investors including New Image Group founder Graeme Clegg, Stephen Tindall’s K One W One, the government’s New Zealand Venture Investment Fund, and about $568,000 from Callaghan Innovation and its predecessors. It has raised about $1.1 million of the $2 million sought in its latest offer of 2.5 million shares at 80 cents apiece. Each share comes with a ‘stapled’ option to buy another share at that price by 2017. Investors need to put in a minimum $750,000.