BTG raises L150M, acquires PneumRx

BTG plc (LSE:BTG) raised L150 million ($234.8 million) through the sale of 18.9 million shares at 795p in a placing underwritten by Deutsche Bank and JPMorgan. Invesco Asset Management purchased 3.3 million shares worth L25.9 million.

BTG also acquired pulmonary device maker PneumRx Inc. (Mountain View, Calif.) for $230 million up front and up to $245 million in milestones. PneumRx markets the RePneu Coil, a Nitinol coil implant to treat advanced emphysema, in Europe. ...