9th Mar 2016 09:57
LONDON (Alliance News) - Cancer immunotherapies developer Scancell Holdings PLC on Wednesday said it plans to raise GBP6.8 million through a placing and open offer.
Scancell will raise GBP3.0 million of the funding through a firm placing, to be conducted via an accelerated bookbuild at 17.00 pence per share.
The other GBP3.8 million will be raised through an open offer of 22.4 million shares at the same price.
Scancell shares were down 16% to 17.00p on Wednesday morning.
"This placing and open offer will fund important next steps for the pipelines of both of our ImmunoBody and Moditope platform technologies as well as strengthening the board and management as Scancell enters the next chapter in its growth," said Scancell Chairman John Chiplin.
By Sam Unsted; [email protected]; @SamUAtAlliance
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