Virax Biolabs Group, a UK-based provider of diagnostic tests and PPE for viral diseases, raised $7 million by offering 1.35 million shares at $5.
Virax has operating subsidiaries in Singapore, Hong Kong, mainland China, and the British Virgin Islands. It primarily sells, distributes, and markets diagnostics test kits and med-tech and PPE products for viral diseases, serving as a distributor for COVID-19 tests. Virax's product portfolio includes both branded ("ViraxClear" and "ViraxCare") and third-party supplies.
Virax Biolabs plans to list on the Nasdaq under the symbol VRAX. Boustead Securities acted as sole bookrunner on the deal.
