E-Therapeutics to raise $2.9 Million via share placement

Printer Print Email Email
Bangalore: Drug developer e-Therapeutics plans to raise two million pounds ($2.9 million) through a private share placement and loan notes to fund the development of its existing and future drug candidates.

Octopus Investments or its related funds would subscribe for a minimum of one million shares at 30 pence apiece and up to 1.7 million pounds worth of loan notes, together with associated warrants.

The 5-year loan notes bear an interest of 12 percent per annum and subscribers would also be issued with warrants to buy up to 5.67 million shares, it said.

E-Therapeutics said the proceeds would also be used to make acquisitions of 'quality' companies and drug candidates.

The turbulence in world financial markets led to a shortage of capital and diminished valuations, creating an opportunity for acquisition and consolidation in the sector, says the company.

SPOTLIGHT
Entertainment
First things first. "Made In Heaven" is the sexiest webseries India has produced, no doubt about i..
Finance
The Department of Telecommunications (DoT) in consultation with the Finance Ministry plans to spli..
Business
Hinduja Global Solutions here on Monday said it has set up a centre of excellence to train disable..
Technology
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suffere..
Enterprise IT
PayByPhone, the global leader in mobile parking payments, today announced that it will appoint And..
US Indian
An Indian-American teenager has been conferred with the 2019 National STEM (Science, Technolog..
Startup City
India Accelerator, a GAN partnered, mentorship-driven, acceleration program hosted ‘The Inner Ci..
Gadgets
Chipset-making giant Qualcomm has listed chipsets such as Snapdragon 855, 845, 710, 675 and 67..
Career
IIT Roorkee organized an MoU exchanging ceremony between the Govt. of India Department of Scie..