Australia's Memphasys Ltd. said Peters Investments Pty Ltd. agreed to invest A$1 million for its work in fertility outcomes for both humans and horses.
After the placement, which is for 1 billion shares priced at 0.1 Australian cent each, Peters Investments will own 18.32% of Memphasys.
Peters Investments is an investment company headed by Australian horse owner-breeder Bob Peters.
Memphasys is applying its core bio-separation technology to assist with animal reproduction in horses and other animals where sperm processing and quality is an issue.
The funding secured from Peters Investments will be used to advance these activities.
