17th Feb 2016 13:04
LONDON (Alliance News) - Life sciences company ValiRx PLC on Wednesday said it has raised GBP502,480 through a share placing.
The company said it had issued 4.2 million shares at 12.00 pence per share to raise the funds. ValiRx shares were down 3.8% to 12.75p on Wednesday.
The funding will be used for general working capital purposes and to back ongoing drug development work, the company said.
"We are delighted to be able to raise additional funds through this equity placing in a challenging market. These funds will enable the Company to progress the clinical trial activity that was recently announced," said Chief Executive Satu Vainikka.
By Sam Unsted; [email protected]; @SamUAtAlliance
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