Indeed both, the world economies can't stand another episode like the last few months without dire consequences. They HAVE TO find a vaccine if at all possible. This isn't just going to go away - TW is a right plum.
If I understood correctly they initially only wanted to raise £5m. I assume it was this figure that was 5 times over subscribed, and it seems to me they took advantage of the opportunity and settled for £12m. That extra £7m could be very useful.
moniman, do you know anything about the process of raising funds? Clearly not. The price cannot be renegotiated at the end of a roadshow after it's been set and agreed.
Ciderman, I'm not sure it would be a distressed company CF would be looking for, but one with plenty of cash and no assets or assets that would be useful for Imutex..