Mr Tindall notified the New Zealand Stock Exchange yesterday that he had bought another 6.5 million shares to boost his stake to 11.4 million shares, taking his holding to 8.61%.
Shares in Pacific Edge, which listed in October 2003 raising $12 million in 25c shares, have been trading between 12c and 22c during the past month and were steady at 20c yesterday.
In late March, Pacific Edge went back to shareholders asking for more cash, the third time since 2005. It is completing that special shareholder placement plan.
Mr Tindall, as an existing shareholder, picked up three share tranches from the residual shares not taken up by shareholders, ABN AMRO Craigs broker Chris Timms said.
Mr Tindall bought 2.85 million shares at 9c, 380,000 at 13c and 3.65 million at 13.7c.
Mr Timms said all shareholders had the chance to raise their stake and it was positive for the company to have Mr Tindall increase his shareholding; however, the 9c residual shares were cheap compared with recent trading figures.
Pacific Edge chief executive David Darling said yesterday the capital raising venture "appeared to have been extremely successful", but the extent of uptake from habitual investors, such as Mr Tindall, was "still being wrapped up", but would fall between $2.5 million and $3.35 million.
Early last month, Pacific Edge Biotechnology was awarded a patent in Singapore for its non-invasive bladder-cancer diagnostic test.
Mr Darling said at the time that bladder-cancer testing could provide revenues of up to $100 million.
Bladder cancer is one of the most common cancers in the Western world.
A $1.6 million clinical trial using 1000 trial patients from New Zealand, Australia and Russia is due to be completed by August, Mr Darling said.
The money raised recently is to be used to complete clinical trials on cancer detection products and further development work.
• Pacific Edge reported a full-year $1.9 million loss, ahead of a budgeted $2.3 million loss last year.
In February last year, it raised a further $5.2 million through a special share purchase plan and habitual advisers.
In its half-year report to September 30 last year, it booked a $1.36 million loss.
