23rd Feb 2016 08:26
LONDON (Alliance News) - Oxford BioMedica PLC said Tuesday it plans to raise GBP8.1 million in a discounted placing to help fund its working capital and investment in its product development pipeline.
The UK based gene and cell therapy research and development business will raise the GBP8.1 million through the placing of 128.4 million shares at a price of 6.3 pence, a 10% discount to its closing price of 7.0 pence Monday.
Shares in Oxford BioMedica were down 3.4% at 6.75p Tuesday morning.
"The funds raised as a result of this placing will help us to build upon our strong position by furthering the development of our product candidates, and continuing to build and invest in our world leading lentiviral manufacturing capabilities," said Chief Executive Officer John Dawson in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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