REG - Ondine Biomedical - Share Issuance for ICU Study Submission

Ondine BiomedicalAnnouncement

25/02/2026 07:00

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RNS Number : 2385U  Ondine Biomedical Inc.  25 February 2026

25 February 2026

ONDINE BIOMEDICAL INC.

("Ondine Biomedical", "Ondine" or the "Company")

Milestone-based Share Issuance Following Submission of Steriwave® ICU Study
Results for Publication

Ondine Biomedical Inc. (AIM: OBI), a global leader in light-activated
antimicrobial therapies, announces the issuance of shares for achievement of
the final milestone under its clinical trial agreement for the ICU pilot study
conducted at Royal Columbian Hospital ("RCH") in British Columbia, Canada. The
milestone, triggered by the submission of the study results for publication in
a leading peer-reviewed journal in critical care medicine, marks the
successful conclusion of the world's first ICU-based clinical trial of the
Company's Steriwave® nasal photodisinfection system.

Carolyn Cross, CEO of Ondine Biomedical, commented:

"We are deeply grateful to the Royal Columbian Hospital Foundation and it's
Advancing Innovation in Medicine research team for their leadership and
collaboration on this important study. Launched in early 2025 at Royal
Columbian Hospital in Canada, this pilot study was an important step in
expanding Steriwave into intensive care units, opening the door to an
additional C$4 billion addressable market. This is the first time
non-resistance forming photodisinfection has been used in ICU, where
multidrug-resistant Gram-negative pathogens remain a critical challenge, and
marks an important step in Ondine's mission to advance Steriwave into critical
care settings. We look forward to the results being published."

As part of the agreement with the RCH Foundation's Advancing Innovation in
Medicine division, Ondine will issue 1,184,504 new common shares of no par
value in the capital of the Company ("Common Shares") at an issue price of
9.75 pence per Common Share, being the closing market price of the Company's
Common Shares on the AIM Market of the London Stock Exchange Group plc ("AIM")
two business days preceding this milestone.

This share issuance represents the final milestone payment, equivalent to 25%
of the C$855,000 total pilot study cost. Milestone payments under the
agreement are made in equity in the Company, allowing Ondine to preserve cash
while advancing key clinical partnerships that expand the evidence base for
its technology.

Admission to AIM and Total Voting Rights

Application has been made for the admission to trading on AIM of the 1,184,504
new Common Shares, which is expected to occur and dealings commence at 8:00
a.m. on or around 27 February 2026 ("Admission"). The new Common Shares, when
issued, will be fully paid and will rank pari passu in all respects with the
existing Shares, including the right to receive all dividends and other
distributions declared after the date of issue.

Following Admission, the Company's issued share capital will consist of
519,551,468 Common Shares, each carrying one voting right per Common Share.
The Company does not hold any Shares in treasury. Therefore, the total number
of voting rights in the Company will be 519,551,468, which may be used by
shareholders to determine whether they are required to notify their interest
in, or a change to their interest in, the Company under the FCA's Disclosure
Guidance and Transparency Rules.

All references to C$ in this announcement are to Canadian Dollars. This
Announcement uses a C$:£ exchange rate of 1 : 0.5403 as at 16:30 EST on 18
February 2026 in accordance with the terms of the study agreement.

 

Enquiries:

 Ondine Biomedical Inc.                                      www.ondinebio.com
 Carolyn Cross, CEO                                          +1 604 669 0555

or via 5654 & Company

 Strand Hanson Limited (Nominated & Financial Adviser)
 James Harris, Richard Johnson                               +44 (0)20 7409 3494

 Peel Hunt LLP (Broker & Joint Financial Adviser)
 James Steel, Dr. Chris Golden                               +44 (0)20 7418 8900

 5654 & Company (Financial PR and IR Adviser)                ondinebiomedical@5654.co.uk
 Matthew Neal, Chris Gardner, Melissa Gardiner               +44 0791 7800 011

                                                             +44 0775 7697 357

 

 

 

About the Royal Columbian Hospital Foundation (RCHF) and Advancing Innovation
in Medicine Division

Royal Columbian Hospital (RCH) is a large tertiary care hospital in one of
Canada's largest health authorities. It has a legacy of care since 1862 and
serves 1.8 million people with unparalleled expertise in cardiac, trauma,
neurosciences, and high-risk maternity, making it a vital lifeline for
critical medical needs in British Columbia, Canada.

The hospital's foundation, a non-profit organization that supports RCH through
public donations, is the largest external funder of research and innovation at
RCH. Advancing Innovation in Medicine (AIM) is the research and innovation
division of the Royal Columbian Hospital Foundation. AIM is dedicated to
pioneering innovative clinical solutions that enhance patient outcomes,
improve healthcare productivity, and create global impact through strategic
partnerships. Find out more:  www.rchfoundation.com/aim-institute
(https://rchfoundation.com/aim-institute/)

 

About Ondine Biomedical Inc.

Ondine Biomedical Inc. is a Canadian life sciences company and leader in
light-activated antimicrobial therapies ('photodisinfection') for the
prevention and treatment of infections, including those caused by
multidrug-resistant organisms. Ondine has a pipeline of investigational
products, based on its proprietary photodisinfection technology, in various
stages of development.

Ondine's nasal photodisinfection system has a CE mark in Europe and is
approved for nasal decolonisation in Canada, Australia, Mexico and several
other countries under the name Steriwave(®). In the US, it has been granted
Qualified Infectious Disease Product designation and Fast Track status by the
FDA and is currently undergoing clinical trials for regulatory approval.
Products beyond nasal photodisinfection include therapies for a variety of
medical indications such as chronic sinusitis, ventilator-associated
pneumonia, burns and other indications.

 

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