12 Oct 2017 15:07
Realm Therapeutics plc
("Realm Therapeutics", "Realm" or the "Company")
Completion of £19.3 million ($26 million) Placing
Financing Brings New Healthcare Specialist Investors to Realm
12 October 2017 - Realm Therapeutics plc (AIM: RLM), a clinical stage biopharmaceutical company focused on leveraging its proprietary immunomodulatory technology, announces that the Placing to raise £19.3 million ($26 million), as approved by Shareholders at the Company's general meeting on 9 October 2017, has completed. The Placing Shares, comprising 66,396,485 new ordinary shares, were admitted to AIM and trading became effective at 8.00 a.m. on 10 October 2017.
US and UK healthcare specialist funds participating in the Placing include OrbiMed, BVF Partners LP, RA Capital Management, Abingworth BioEquities Master Fund Ltd and Polar Capital. Other participants include certain existing investors, including the Non-Executive Chairman and the CEO of Realm.
Alex Martin, Chief Executive Officer of Realm Therapeutics, said:
"We are extremely pleased to confirm the completion of this fundraise which represents an important step for the Company in terms of attracting well-regarded healthcare specialist investors to Realm and securing additional resources to advance our drug development programmes. We thank our existing shareholders for their strong support of this financing."
Enquiries:
Realm Therapeutics plc | +44 (0) 20 3727 1000 |
Alex Martin, Chief Executive Officer | |
Marella Thorell, Chief Financial Officer and Chief Operating Officer | |
FTI Consulting | +44 (0) 20 3727 1000 |
Simon Conway / Mo Noonan | |
N+1 Singer (Nominated Adviser and Broker) | +44 (0) 20 7496 3000 |
Aubrey Powell / Lauren Kettle |
Unless otherwise indicated, capitalised terms in this announcement have the same definition as in the Circular announced and posted to the Company's website on 21 September 2017.
About Realm Therapeutics
Realm Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel immunomodulatory therapies to protect and improve the lives of adults and children. The Company has initiated drug development programmes, based on its proprietary hypochlorous acid technology at high concentrations. The Company believes its formulations have novel immunomodulatory activity with potential application for the treatment of diseases in a number of therapeutic areas, including Dermatology and Ophthalmology.