10 July 2006

The (Manchester office) of Brewin Dolphin Securities has advised Zi Medical, an AIM company that focuses on the development of medical devices and drug development technologies for the US and European healthcare markets, on a £2.5 million fundraising by way of an issue of convertible loan notes to Merlin Funds.

The company also plans to raise a further £4.5 million during the next 12 months through the issue of new shares to fund the acquisition of IP and licences to projects for which it can add value. It will also use the resources for the commercialisation of it’s drug development technologies, Drugprint and PathScore, which includes selling to the NHS and seeking reimbursement in the United States.

The advisory team for Brewin Dolphin Securities comprised Mark Brady (Head of Corporate Finance) and Sarah Kent (Assistant Director).