BioCentury
ARTICLE | Financial News

Sygnis raises EUR10M in rights offering and private placement to fund Innova acquisition

June 16, 2017 9:26 PM UTC

Molecular biology services company Sygnis AG (Xetra:LIO1) raised €10 million ($11.2 million) across two offerings in May and plans to use the proceeds to acquire bioconjugates company Innova Biosciences Ltd. (Cambridge, U.K.).

On May 8, it raised €4.9 million ($5.5 million) through the sale of 3.6 million shares at €1.38 in a rights offering. On May 11, it raised €5.1 million ($5.7 million) through the sale of 3.7 million shares at the same price in a private placement...