7th Mar 2014 18:16
LONDON (Alliance News) - Futura Medical PLC Friday said it has raised GBP12.0 million through the conditional placing of 21.1 million shares in the company at a price of 57 pence per share.
The healthcare company said it placed the shares with existing and new institutional investors and said the net proceeds would be used to accelerate the development of its business.
The company said it plans to use the funds to develop the company's sexual healthcare and pain relief product portfolios, and to fund general working capital including funding clinical work and trials.
Futura Medical shares closed up 2.6% at 65.63 pence Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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