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(Alliance News) - Drug development company Sareum Holdings PLC on Tuesday said it plans to raise GBP718,500 through a share placing to progress its TYK2/JAK1 programmes.
Sareum will place 119.8 million shares at 0.60 pence each. Shares in the company closed 0.7% lower at 0.70p in London on Tuesday.
Sareum noted the placing price was a 15% discount to its closing price on Monday.
"The net proceeds from the Placing, together with any grants awarded to Sareum, will also help the company explore the potential benefit of our TYK2/JAK1 inhibitors against Covid-19," the firm explained.
Sareum also unveiled plans for a retail offer, at the same 0.6p price.
"The company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the offer by applying exclusively through the www.PrimaryBid.com platform and the PrimaryBid mobile app available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service," Sareum added.
By Eric Cunha; ericcunha@alliancenews.com
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