They raised £4.72m so 135 million extra share dilution20 May 2025 14:13
The company earlier on Tuesday revealed plans to raise at least £4.1m, but confirmed around lunchtime that had conditionally raised £4.72m due to strong investor demand.
The fundraising comprised a placing of 134.8m shares, raising £3.37m, and a subscription of 53.8m, raising £1.35m. A bookbuild offer remains open until the end of play on Thursday, with the potential to raise an additional £100,000.
The funds will be used to provide the company financial runway into 2027, as well as going towards the Phase 2a trial of POLB 001, its oral preventative therapy for cancer immunotherapy-induced Cytokine Release Syndrome. The first patient in the trial is expected to be dosed in the second half of 2025, with topline data due in the second half of 2026.