Date: 2011-05-27
Type of information: Private placement
Company: Synairgen (UK)
Investors:
Amount: £2.65 million (€3 million)
Funding type: private placement
Planned used: The net proceeds of the Fundraising will be used: to accelerate the completion of the ongoing Phase II study in asthma; to conduct additional laboratory-based work on the interferon beta programme; and to expand the scope of the influenza preclinical programme. In addition, the net proceeds will also provide the Company with its working capital requirements for the foreseeable future, being a period of not less than 12 months from the date of Admission of the Placing Shares and the Subscription Shares.
Others: Synairgen has proposed to raise £2.65 million (gross) by means of a placing with institutional and other investors of 9,359,262 new Ordinary Shares and a subscription by the Directors and others for 455,553 new Ordinary Shares, all at a price (the \'Issue Price\') of 27p per Ordinary Share (the \'Fundraising\').
Therapeutic area: Allergic diseases - Inflammatory diseases - Respiratory diseases
