Shares in medical device manufacturer Mauna Kea jumped 11% on Monday morning on the Paris Bourse, following the acquisition of a stake of over 19% by its Australian partner Telix.

As part of their long-term clinical and commercial partnership, Telix has decided to invest six million euros in Mauna Kea via the acquisition of 11.9 million new ordinary shares.

These new shares will be issued at a price of 0.5037 euros per share, representing a premium of 10% over Mauna Kea's weighted average price over the last 10 trading days.

Following settlement-delivery of the new shares, scheduled for November 17, Telix will hold 19.33% of the share capital and 19.01% of the voting rights.

According to the two partners, the aim of their alliance is to develop new hybrid solutions combining Telix's cancer targeting agents with Mauna Kea's Cellvizio surgical endomicroscopy platform.

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