Allergy Therapeutics PLC
04 May 2006
Allergy Therapeutics plc, "Allergy Therapeutics" or "the Company"
Result of Extraordinary General Meeting
Allergy Therapeutics plc (AIM: AGY), the specialiast pharmaceutical company
focused on allergy vaccination, is pleased to announce that all resolutions at
the Company's Extraordinary General Meeting, held earlier today, were duly
passed.
The Board is pleased to report that 19,000,000 new ordinary shares have been
placed with existing and new investors raising approximately £18.2 million, net
of expenses. This additional capital will primarily fund the completion of the
Company's development pipeline of innovative ultra-short course allergy
vaccines, Pollinex Quattro, through to registration.
It is anticipated that the new shares will commence trading on 5th May 2006. The
new shares will rank pari passu with the existing shares. Following admission of
the new shares the Company will have 81,950,632 ordinary shares in issue.
Commenting on the announcement, Keith Carter, Chief Executive of Allergy
Therapeutics, said:
"We are delighted that our shareholders have overwhelmingly approved the
fundraising proposed by the Company. We are very excited about the progress of
the Company to date and the milestones that have been reached.
"The capital raised will help us to complete our Phase III programme for
Pollinex Quattro and will bring the Company closer to delivering the first and
only simple, four shot allergy vaccine therapy to patients worldwide."
-ends-
For further information please contact:
Allergy Therapeutics plc 01903 845 820
Keith Carter, Chief Executive
Ian Postlethwaite, Finance Director
Bell Pottinger 020 7861 3863
Dan de Belder / Emma Charlton
About Allergy Therapeutics plc
Allergy Therapeutics plc is a London Stock Exchange (AIM: AGY) listed specialist
pharmaceutical company focused on allergy vaccination. It has a profitable core
business achieving sales of allergy vaccines of over £22 million through its own
EU sales and marketing infrastructure.
Pollinex Quattro incorporates the innovative TLR4 agonist MPL, which acts as an
efficient vaccine adjuvant. Allergy Therapeutics has certain exclusive
intellectual property rights to the use of MPL(R) in both injected and oral
vaccines.
Allergy Therapeutics manufactures its own vaccine products in a MHRA approved,
sterile manufacturing facility in Worthing, United Kingdom. In January 2006 the
Company successfully underwent an audit by the MHRA.
Placing Statistics
Placing Price 100 pence
Number of Placing Shares being placed on behalf of the Company 19,000,000
Number of Ordinary Shares in issue following Admission 81,950,632
Percentage of enlarged issued share capital subject to the Placing 23.2%
Proceeds of the Placing available to the Company (net of expenses) £18.2 million
This information is provided by RNS
The company news service from the London Stock Exchange