US fund takes small stake in cancer diagnostics firm Pacific Edge, shares lift

US fund takes small stake in cancer diagnostics firm Pacific Edge, shares lift
Rebecca Howard
By Rebecca Howard July 30 (BusinessDesk) - Pacific Edge said Manchester Management Company, a US privately owned fund specialising in biotech and life sciences investments, will take a 1.7 percent stake in the company, reflecting growing international investor interest. The Dunedin-based cancer diagnostics company said it has accepted an investment offer of NZ$2.622 million and will issue 8.2 million shares in aggregate to Manchester Management at  32 cents per ordinary share, a 24.75 percent premium over the volume weighted average price...