Manchester, U.K.-based Premaitha Health PLC raised £2.5 million in a share subscription to investors and directors.

The company issued 55,527,784 new ordinary shares at 4.5 pence per share. The proceeds will be used for the company's international expansion, as well as product development.

Meanwhile, William Denman, the company's founder, stepped down as a director and consultant of Premaitha Health, which develops tests for prenatal screening and other applications in the U.K. and internationally.