BioCentury
ARTICLE | Financial News

Circassia raises L275M to fund pair of acquisitions

June 10, 2015 1:51 AM UTC

Allergy company Circassia Pharmaceuticals plc (LSE:CIR) raised L275 million ($420.1 million) through the sale of 95.5 million shares at L2.88 in a placing and open offer underwritten by JPMorgan Cazenove and Peel Hunt. The sale included 59.8 million shares in the open offer and 35.6 million shares in the placing.

Last month, Circassia said it would acquire asthma diagnostics company Aerocrine AB (SSE:AERO) for about SEK1.8 billion ($214.6 million) and pulmonary therapeutics developer Prosonix Ltd. (Oxford, U.K.) for up to L100 million ($154.3 million) (see BioCentury Extra, May 15). ...