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C4X Discovery Holdings PLC - Manchester-based developer of drug discoveries - Proposes placing to raise up to £5.7 million through issue of EIS/VCT shares and general placing shares at 25 pence each.
Existing shareholder Polar Capital Biotechnology Fund plans to invest minimum of £3.0 million in placing.
Says proceeds will be used to further support corporate development and on-going commercial activities.
‘The directors believe that C4XD's combination of state-of-the-art proprietary technologies, highly experienced scientific team, and industry experience puts the company in a strong position to fulfil the pharmaceutical industry's demand for high quality early-stage drug candidates,’ it adds.
Current stock price: 24.90 pence, down 1.0% on Thursday
12-month change: down 20%
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