Date: 2014-03-13
Type of information: Private placement
Company: Vectura (UK)
Investors:
Amount: £52.0 million (€62.1 million)
Funding type:
Planned used: Vectura\'s strategy to date has been to focus on developing products for the treatment of airways-related diseases through leading and enabling the development of innovative and efficacious medicines to address unmet medical and payer needs. The net funds raised from the Placing will be used to progress the development of FAVOLIR® (Activaero\'s lead asset) and to launch and/or partner FAVOLIR® in the EU and US markets. Any remaining proceeds will be used to fund the development of the Enlarged Group\'s pipeline.
Others: * On March 13, 2014, Vectura Group has announced its intention to place approximately 33.6 million new ordinary shares representing approximately 9.9 per cent of the Company\'s existing issued share capital (prior to the Placing) to raise approximately £52.0 million. In addition to the Placing, Vectura has separately announced that it has entered into an acquisition agreement to purchase the entire issued share capital of Activaero for a total consideration of €130 million. Application will be made to the Financial Conduct Authority for admission of the Placing Shares and Consideration Shares to the premium segment of the Official List of the UK Listing Authority and to the London Stock Exchange for admission to trading on its main market for listed securities. It is expected that Admission will become effective on or around 18 March 2014 and that dealings in the Placing Shares will commence at that time.
Therapeutic area: Inflammatory diseases - Respiratory diseases
