12.02.2013 - AIM-listed cancer drug discovery specialist e-Therapeutics plc is set to
raise £40m to push its drug development.
The Oxford-based drug discovery and development company said it will issue new ordinary shares to institutional investors. The shares will be priced at 32p, a premium of 4%, to the closing mid-market price on share value of 8th February. The move was backed by the company’s shareholders in advance of its general meeting.
With the proposed issue, e-Therapeutics wants to fill its pockets – pro-forma net cash and liquid resources will total approximately £48m after the capital increase. The company announced this will be enough money to support all of the company’s current R&D activities until 2017 by which the company expects to licence its lead compound, ETS2101.
Up to then £25m will be required to push the synthetic cannabinoid dexanabinol (ETS2101) from the current Phase I dose-escalation studies to proof-of concept in glioma and four to six additional solid cancer indications. Other investments will be made into new drug discovery efforts using the company’s network pharmacology platform. The funds to be raised through the new issue will include a substantial fund by existing investor Invesco Asset Management Limited, whose shareholding will increase from 45.92% to 49.90% after completion.
27.04.2016 More revenue, more jobs, more financing, more R&D expenditure – all signs point towards sustainable growth in the German biotech sector. These are the results of the most recent company survey 2016, published by biotechnologie.de. The report was once again conducted alongside the biotech standards defined by the organisation for economic cooperation and development (OECD).
21.04.2016 An expert panel’s final report on the fatal drug trial earlier this year in France states that the death of one of the participants was most likely caused by the drug’s toxicity and not by any violation of the rules.
21.04.2016 For up to US$685m (€606m), Dutch ArgenX has outlicensed its human antibody programme ARGX-115 to AbbVie. The pre-clinical immuno-oncology candidate targets a protein believed to contribute to immunosuppressive effects of T-cells.
19.04.2016 British drug developer Heptares Therapeutics and mAb maker Kymab Ltd have partnered up in yet another immuno-oncology collaboration. The companies plan to discover antibody meds targeting a superfamily of receptors.
15.04.2016 Not every company is put off by the current stock market climate. Swiss biopharma company GeNeuro has gone public at Euronext Paris, raising €33m in the process. Others, meanwhile, have to find different ways to raise money.
13.04.2016 Despite political disturbances, 2015 was a good year for the biotech scene in Switzerland. Net sales increased by 5.1% to CHF5,133m and 400 additional people found jobs in the sector. As usual, the new numbers were presented at the annual Swiss Biotech Day – which set new records as well.
12.04.2016 German-Dutch life science investment specialist Forbion Capital Partners has raised more than €180m for its venture capital fund Forbion Capital Fund III. Once more the money will primarily go to European start-ups.
08.04.2016 Do you win by being innovative?, was the question asked at this year’s DIA Euromeeting in Hamburg. In a relaxed and cooperative atmosphere, regulators, physicians and patients had ample opportunity to interact with the healthcare industry.
07.04.2016 Pfizer and Allergan have called off their merger, cancelling plans to relocate the US pharma giant to Ireland to avoid US taxation. The US government has put a spoke in Pfizer’s wheels - an unfair move, Allergan says.