| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Redx Pharma raising up to £27.7m to fund clinical programmes
StockMarketWire.com
|
Cancer and fibrosis focused Redx Pharma said it would raise up to £27.7 million from a share issue to fund its clinical programmes and pre-clinical research.
News shares in the company were being offered at 56p each, a 2.6% discount to Redx's closing price on Tuesday.
The offer included a £25.5 million placing, which had been completed, and an up to £2.2 million open offer.
'We are delighted to have conditionally raised around £25.5 million, which has strengthened our financial position and means we can continue to drive forward with two promising clinical programmes and our preclinical research at pace,' chairman Iain Ross said.
'We are particularly pleased with the continued strong support from our existing investors, notably Redmile and Sofinnova, as well as welcoming new investors including Polar Capital.'
At 8:53am: (LON:REDX) Redx Pharma Plc share price was 0p at 62.5p
Story provided by StockMarketWire.com
|
|
|
|
|
|
