Intercytex completes 2.8M placement
UK-based cell therapy specialist Intercytex has raised 2.8 million ($4.9 million) before expenses through a placing for cash of 6,547,619 new ordinary shares at 1 pence each.
The new shares, which represent approximately 8.2% of the company's issued share capital prior to the financing, have been bought by existing institutional shareholders at a price of 42 pence per share. This represents a discount of around 10% to the closing middle market price on September 8.
Commenting on the placing, Nick Higgins, chief executive of Intercytex, said: "these funds will enable us to take our lead treatment for chronic wounds, Cyzact (formerly ICX-PRO), through Phase III trials in readiness for partnering and also to continue the development of the other products in the company's late-stage pipeline."
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 accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- 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
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze