18th Jun 2014 11:09
LONDON (Alliance News) - Biopharmaceutical company Oxford BioMedica PLC said Wednesday that it had repaid the full amount drawn down from its GBP5 million loan facility agreement with its largest shareholder following its recent equity fund-raising.
Oxford said Monday it had raised GBP21.6 million in a firm fund-raising and under-subscribed open offer, falling short of its targeted GBP25.7 million.
The company has repaid the shareholder, the Vulpes Life Sciences Fund, and the loan agreement has subsequently been cancelled.
Shares in Oxford BioMedica were trading down 2.4% at 2.15 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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