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LONDON (Alliance News) - Life sciences company hVIVO PLC on Thursday said it has conditionally raised GBP20.5 million to back its development portfolio.
The company said it has placed 9.1 million shares with existing institutional shareholders at 225.00 pence per share. Shares in hVIVO were down 7.4% to 235.565p on Thursday morning.
The company said the placing proceeds will be used to progress its PrEP-001 prophylactic compound to phase IIb trials and to advance its asthma and flu treatments.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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