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news.Independent institutional stockbroker and investment bank Panmure Gordon has acted as sole adviser and broker to drug discovery and development company e-Therapeutics on a conditional placing to raise £17.6m of new funds.
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In addition, Panmure Gordon has conditionally placed £3.4 million of existing shares on behalf of certain selling shareholders.
e-Therapeutics is developing its own drug development pipeline, which includes drug candidates to tackle cancer, depression and infections.
Panmure Gordon group CEO Tim Linacre said they are delighted to have assisted e- Therapeutics – a client we gained last year – to successfully achieve this fundraising.
"The company will use the funds to develop its lead drug candidates and to undertake increased discovery activities to widen its development pipeline, as well as support working capital and business development," Linacre said.