News

e-Therapeutics to raise £40m
Enlarge image

BusinessUK

e-Therapeutics to raise £40m

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.

© eurobiotechnews.eu/tg 

http://www.european-biotechnology-news.com/news/news/2013-01/e-therapeutics-to-raise-pound40m.html

BioeconomyEU

26.08.2015 In its second call for proposals, the Bio-Based Industries Joint Undertaking has earmarked €106m for the research and development of useful bio-based products.

OncologyNorway

25.08.2015 Oslo Cancer Cluster is inaugurating its NOK1bn (€107m) Innovation Park. None other than Norwegian prime minister Erna Solberg officially opened the doors to the research park on August 24th.

LicensingUKSwitzerland

21.08.2015 Novartis Pharma AG has secured all remaining rights to antibody hopeful ofatumumab. Seller GlaxoSmithKline is set to receive up to US$1bn (€919m) for the treatment for MS and other autoimmune indications.

LicensingDenmark

18.08.2015 Danish Novo Nordisk is climbing on the antibody therapeutics bandwagon in a US$500m licensing agreement with antibody-specialist Genmab.

M&ASwitzerland

13.08.2015 Roche is stepping up its commitment in the fight against drug resistant “superbugs” with its takeover of US diagnostics play Geneweave, for up to US$425m.

M&AUK

11.08.2015 Biotech bug controllers Oxitec has been bought by US biotech Intrexon Corporation for $160m (€145m). The Oxford University spin-out specialises in environmentally friendly technology to control pests such as mosquitoes, which cause dengue fever and other diseases.

Research and DevelopmentFranceGermany

07.08.2015 In a deal worth more than €300m, Sanofi has partnered up with German drug discovery and development company Evotec in order to develop beta cell-modulating diabetes therapies.

M&AIrelandUK

05.08.2015 Irish pharma and biotech major Shire wants to be number one in orphan diseases, and is setting out to acquire US-American Baxalta in a US$30bn deal – by any means necessary.

R&DUKSweden

04.08.2015 In a deal worth US$65m upfront, AstraZeneca is again teaming up with long-time partner Isis Pharmaceuticals Inc., this time to discover and develop RNA antisense drugs for cardiovascular, metabolic and renal diseases.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • NEUROVIVE PHARMACEUTICAL AB (S)23.00 SEK25.00%
  • BAVARIAN NORDIC (D)41.03 EUR20.85%
  • TIGENIX (B)1.02 EUR17.24%

FLOP

  • EVOCUTIS (UK)0.18 GBP-10.00%
  • BIOTIE THERAPEUTICS (FI)0.20 EUR-9.09%
  • THROMBOGENICS (B)2.90 EUR-6.15%

TOP

  • KARO BIO (S)38.10 SEK2281.2%
  • TRANSGENE (F)5.08 EUR80.8%
  • TIGENIX (B)1.02 EUR30.8%

FLOP

  • THROMBOGENICS (B)2.90 EUR-42.9%
  • BIONOR PHARMA (N)1.28 NOK-37.6%
  • WILEX (D)2.05 EUR-36.5%

TOP

  • KARO BIO (S)38.10 SEK4546.3%
  • ADOCIA (F)86.70 EUR432.2%
  • VERONA PHARMA (UK)4.92 GBP339.3%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-85.7%
  • BIOTEST (D)19.93 EUR-76.0%
  • NEOVACS (F)0.96 EUR-72.7%

No liability assumed, Date: 29.08.2015