Business
Successful Placing to Raise £10 Million
Successful Placing to Raise £10 Million.
About this update from Immupharma Plc
[{"type":"text","content":"\n \nRNS Number : 7232C Immupharma PLC 24 January 2018 \n\n 24 JANUARY 2018\n \nImmuPharma PLC\n(\"ImmuPharma\" or the \"Company\")\nSUCCESSFUL PLACING TO RAISE £10 MILLION\nImmuPharma PLC (LSE:IMM), the specialist drug discovery and development company, is pleased to announce that, in response to institutional demand, it has completed a fundraise totalling £10 million (before expenses) via a placing of 6,944,445 new ordinary shares of 10p each in the Company (\"Ordinary Shares\") at a price of 144p per share (the \"Placing Shares\") with new and existing investors (the \"Placing\").\nKey highlights:\n£10 million (before expenses) raised for the Company via the issue of Placing Shares:\n \n· Major new and existing institutional investors have participated in the Placing; and\n \n· ImmuPharma will apply these additional funds to support future investment in ImmuPharma's P140 peptide platform. The proceeds of the Placing will also provide the Company with additional working capital.\n \nCommenting on the announcement, Tim McCarthy, Chairman, said: \"With our recent key milestone being announced confirming the completion of our Phase III trial of Lupuzor™, the Company is now at an exciting and pivotal phase of its development. We were approached by new institutions, introduced by Turner Pope Investments, keen to...