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MyHealthChecked is aiming to raise £3 million through a placing of new shares at £0.001 each.
Proceeds will be used to launch the company's current products into the retail sector and develop a pipeline of new products, alongside a smartphone app in order to capture data.
MyHealthChecked is looking to increase its headcount to support these commercial activities, more than doubling its team by December 2022 and increasing the required marketing investment to accelerate commercial growth.
Several directors of the company have already confirmed their intent to buy into the placing.