China GL Capital claims 5% stake in U.K.'s Oxford BioDynamics

Epigenetic biomarker company Oxford BioDynamics plc (LSE:OBD) partnered with GL Capital Group to address demand for healthcare and personalized medicine in China. The Greater China healthcare-focused firm will act as the U.K.-based biotech's lead mainland Chinese business development partner.

In conjunction, GL Capital invested £9.8 million ($12.4 million) in Oxford BioDynamics through the purchase of 4.7 million new shares at 208p. The price is a 3% discount to Oxford BioDynamics' close of 214p on Aug. 21, before the partnership was announced. GL holds a 5.1% stake in the company, its first investment in Europe...