Realm raises £19.3M

Dermatology and ophthalmology company Realm Therapeutics plc (LSE:RLM) raised £19.3 million ($26.2 million) through the sale of 66.4 million units at 29p in a private placement to new and existing investors. New investors included OrbiMed, BVF Partners, RA Capital Management, Abingworth and Polar Capital. CEO Alex Martin and Charles Spicer, who is non-executive chairman of Realm, also participated in the placement. Each unit comprises a share and a two-and-a-half year warrant to purchase 0.4 shares, with each whole warrant exercisable at 58p.

By year end, Realm plans to start a pair of Phase II trials evaluating PR022 to treat atopic dermatitis and PR013 to treat allergic conjunctivitis, respectively. Top-line data from both trials are expected in mid-2018. PR022 and PR013 are topical gel and topical ophthalmic solution formulations, respectively, containing a high concentration of hypochlorous acid...