10th Mar 2015 10:30
LONDON (Alliance News) - Pharmaceuticals company Allergy Therapeutics on Tuesday said it has conditionally raised GBP20.8 million via a share placing.
The company, which focuses on allergy vaccines, said it placed 94.1 million shares at 22.1 pence per share with institutional and other investors. Shares in Allergy were down 9.6% to 22.825 pence on Tuesday.
The proceeds of the placing conducted by Panmure Gordon are to be used to fund the clinical development of its Pollinex Quattro Grass product.
"With the funds raised from the Placing, we are now focused on progressing the clinical development of Pollinex Quattro Grass through to FDA approval and planned launch in the US in 2019," said Allergy Chief Executive Manuel Llobet.
By Sam Unsted; [email protected]; @SamUAtAlliance
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