LONDON (Alliance News) - 4d Pharma PLC Wednesday said it has conditionally placed 14.3 million new shares on the market at 150 pence per share, raising GBP21.5 million before expenses.
4d Pharma shares were down 3.4%, trading at 169.00 pence Wednesday morning.
The pharmaceutical company said it plans to use the proceeds to further develop Thetanix, its first programme targeting Paediatric Crohn's Disease, and Rosburix, targeting Paediatric Ulcerative Colitis.
The company said it also will use the funds to develop other new candidates discovered via the Micro Rx platform, and to develop and acquire other microbiome-related projects.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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