TruScreen Group Limited (NZX/ASX:TRU), a medical device company focused on real-time cervical cancer screening, has raised NZ$2.35 million from a share placement that drew strong interest from investors across Asia, including some new investors from Singapore and Hong Kong. These additional funds will be used to advance the company’s AI-powered cervical cancer detection technology amid growing international adoption.
The capital injection comes as global health systems increase their focus on early detection and AI-driven medical technology, presenting significant tailwinds for TruScreen’s non-invasive screening solution.
Chairman Sees Momentum Building
Commenting on the successful raise, Chairman Tony Ho noted the backing of new institutional shareholders from Singapore and Hong Kong as a vote of confidence in the company’s execution and global opportunity:
“We are pleased with the strong support that we have received for this placement and welcome new institutional shareholders from Singapore and Hong Kong. This acknowledges the achievements TruScreen has made in the past year, and with these initiatives in place, the significant opportunities we have in the year ahead”.
Shares Offered in Placement Come With Free Attaching Options
The placement, priced at NZ$0.022 per share, comprised 107,034,091 new shares. Each new share will come with one free option, exercisable at the same NZ$0.022 issue price and expiring one year from issue. Around 80.9 million shares will be issued under the company’s existing 15% placement capacity, while the remaining shares—along with free-attaching options—will be subject to shareholder approval at a meeting scheduled for 11 July 2025.
Retail Investors Get Their Turn with SPP
Alongside the institutional raise, TruScreen will open a Share Purchase Plan (SPP) on 3 June 2025, offering eligible shareholders (on record as of 28 May 2025) the chance to purchase up to NZ$50,000 in new shares.
Shares under the SPP will be issued at the lower of NZ$0.022 or a 2.5% discount to the volume-weighted average price (VWAP) over the five trading days leading to the SPP close on 23 June 2025.
Raising the Ceiling with Oversubscriptions
The SPP is capped at NZ$1.22 million under listing rules, though the Board has flagged it may accept oversubscriptions, subject to shareholder approval. As with the placement, each share issued under the SPP will also carry a free-attaching option on the same terms, pending approval.
CEO Sees Strategic Alignment with Global Push
The funds raised come at a time when TruScreen is gaining regulatory traction across multiple regions, aligning with growing international investment in women’s health and preventative screening.
Recent regulatory wins include addition to the Russian national guidelines for cervical screening, listing on Vietnam’s Ministry of Health technical list in 2023, and formal inclusion in China’s national screening protocols.
“Achieving this level of regulatory recognition positions us to scale across high-need markets,” Ho said. “It shows that our technology is being taken seriously by healthcare systems.”
AI-Driven Screening Gains Global Traction
TruScreen’s flagship product, TruScreen Ultra®, uses AI to detect abnormal cervical tissue in real time, without the need for lab-based sample collection. This not only reduces costs but removes barriers such as failed samples, delays, and the requirement for highly trained personnel.
The device has been approved in over a dozen countries, including Australia, China, the UK, Mexico, and Saudi Arabia, with over 200 units now in use across public and private sectors. In FY25, around 150,000 cervical exams were conducted using TruScreen’s proprietary sensors.
Positioned for the Next Phase
With capital secured, an SPP underway, and growing international acceptance of its AI-powered device, TruScreen appears focused on scaling distribution and consolidating its presence in emerging and developed markets alike.
“Our core technology is now part of national programs,” Ho reflected. “With this capital raise, we can continue to drive adoption and impact patient outcomes globally.”
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