Xenetic raises $19M in placing

Drug delivery company Xenetic Biosciences plc (LSE:XEN) raised L12.2 million ($19.1 million) through the sale of 110.8 million shares in a placing to SynBio LLC (Moscow, Russia) at 11p. The price is a 19% premium to Xenetic's close of 9.25p on Aug. 3, the day before the offering was announced. Xenetic (formerly Lipoxen plc) plans to raise additional funding in an open offer. SynBio now owns a 50.2% stake in Xenetic. Xenetic was up 0.62p to 7.12p on Tuesday. ...