The stock was sold at 7p – a modest discount to Friday’s close – and the proceeds will be used to fund its expansion in the People’s Republic, though some of the cash will be invested in new product development.
Announced last Monday (Nov 6), the order for 5,200 myLotus fertility meters by the ShanDong WeiHai HaiChen Pharmaceutical Co has now been placed, with revenues from the deal expected to fall onto the top-line by the end of the year.
“We expect to be able to announce further orders in the coming months and I look forward to updating shareholders in due course," said chief executive Eric Henau.
In a separate announcement, its third of the morning, Concepta said it had appointed Novum Securities joint broker to work alongside Beaufort Securities.
The company’s key product is myLotus, an easy-to-use home test that has been developed for women who have been trying to conceive for six months or more.
It measures hormone levels in urine to give quantitative and qualitative measurements that might help explain the apparent lack of fertility.
Competitor products currently only allow qualitative measurement and are based on the 'average woman'.
On sale now in China, the commercial launch for myLotus in Germany and the UK is expected in the first half of next year, once the company has received regulatory sign-off in the form of a CE mark.
Stress tests the next development
Concepta has more than just myLotus in its armoury, though; it’s currently working on a stress test to help both women and men with fertility problems.
A technology transfer and licence agreement has been agreed with Selective Antibodies, a UK based diagnostics company.
Concepta will be given exclusive rights to rights to Selective’s intellectual property in return for fees and a royalty on any products sold.
At present, the Lotus platform capabilities include measurements of a woman's personal hCG and LH hormone levels.
With Selective’s input, Concepta wants to expand this reach to quantitative measurement of stress hormones such as cortisol.