Successful placing of shares
London – The British pharmaceutical company Protherics plc has issued 58 715 544 new ordinary shares for Euro 54 million to finance the company’s growth. Only recently, Protherics had acquired the US firm Macromed Inc. in a Euro 20 million all-share deal. Furthermore, Chairman Stuart Wallis announced that he has signed two other agreements, which expand the company’s drug pipeline: Protherics in-licensed intellectual property from Glenveigh Pharmaceutical and paid Euro 2.8 million in stock. With the third deal, Protherics took over co-development rights for Acadesine from Advanced In Vitro Cell Technologies SL for an undisclosed sum. The drug is a potential cure for chronic B-cell lymphocatic leukaemia. Protherics has already two marketed products with CroFab (pit viper antivenom) and DigiFab, a digoxin antidote, which is sold in the US through an Altana subsidiary.