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Alliance News

Oxford BioMedica To Raise GBP21 Million Via Discounted Share Issue (ALLISS)

Fri, 9th Mar 2018 17:16

LONDON (Alliance News) - Oxford BioMedica PLC said Friday it intends to raise GBP20.5 million via a accelerated share book build process to fund the expansion of its bio-processing facilities.

The gene and cell therapy company expects to issue 174.3 million new shares at 11.75 pence per share, a discount of 5.85% to Thursday's closing price of 12.48 pence.

The funds will be used to build four new GMP vector suites, fill and finish suites and warehouse and office space.

"This fundraise will allow us to exploit our market leading position by giving us the capacity to service this rapidly growing market that is expected to be worth USD800 million annually, by 2026," said Chief Executive John Dawson.

Peel Hunt LLP and WG Partners LLP are acting as joint bookrunners in relation to the placing. The new shares are expected to be admitted to trading next Wednesday.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved

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