22nd Jan 2015 17:35
LONDON (Alliance News) - IP Group PLC Thursday said its subsidiary, Tissue Regenix Group PLC, has raised GBP20 million after conducting a placing, which saw IP Group increase its stake in the company.
Tissue Regenix conducted the placing at a price of 19.0 pence per share with new and existing shareholders, including IP Group.
UK intellectual property commercialisation company IP Group subscribed to 13.2 million shares for around GBP2.5 million, increasing the company's stake to around 13.6% in Tissue Regenix.
"This fundraising will allow Tissue Regenix to build on the success it has achieved so far, to explore new products and applications, and to strengthen its presence in the US," said IP Chief Executive Alan Aubrey.
IP shares closed up 2.8% to 224.30 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Ip Group