(Alliance News) - e-Therapeutics PLC on Friday said it has closed a share placing, subscription and retail offer via PrimaryBid, raising GBP22.5 million gross.
The Oxford, England-based drug discovery company said it will issue a total of 93.8 million shares at a price of 24 pence each.
AIM-listed e-Therapeutics shares were trading 7.0% lower in London on Friday morning at 25.40p each, giving it a market capitalisation of GBP106.9 million.
The proceeds of the fundraising will go towards several initiatives, including expanding the company's proprietary, disease-agnostic, drug discovery and development platform capabilities and asset pipeline.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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E-therapeutics (ETX)