Cortecs Plans To Raise L20M From Private Placing

2 June 1996

Cortecs International is going ahead with a private placement of around 5.7 million new ordinary fully-paid shares, aiming to raise additional capital of some L20 million ($30.2 million). This is also expected to enhance the company's global shareholder base.

Primarily, the new funds will be used to bring forward and develop existing and additional applications of Cortecs' oral delivery platforms. It has already released positive Phase II trials for its oral delivery technology for calcitonin in the treatment of osteoporosis and positive results for its open Phase I/II trials for its oral therapeutic vaccine against Pseudomonas aeruginosa (Marketletters passim).

The new shares will rank pari passu with existing shares. An application will be made to trade the shares on the Australian and London stock exchanges.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK





Today's issue

Company Spotlight