11th Aug 2022 10:49
C4X Discovery Holdings PLC - Manchester-based developer of drug discoveries - Proposes placing to raise up to GBP5.7 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 GBP3.0 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%
By Paul McGowan; [email protected]
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