Bivictrix Therapeutics PLC on Wednesday said it has raised £2.1 million through a placing and subscription of 16.4 million shares.
Earlier on Wednesday, the Macclesfield, England-based biotechnology company focusing on cancer therapies proposed a fundraise. As part of the subscription and placing, the shares were priced at 13 pence each, a 10% discount to the shares closing price of 14.50p on Tuesday.
Bivictrix shares closed up 9.7% to 15.90p each in London on Wednesday.
After market close in London, Bivictrix closed the fundraise.
As part of the placing, 9.3 million shares will be issued, raising £1.2 million. Meanwhile, as part of the subscription, 7.1 million shares will be issued, raising £928,500.
Chief Executive Officer Tiffany Thorn said: ‘We recently announced the nomination of our final clinical candidate for the BVX001 programme which reported marked tumour regressions in a murine model of Acute Myeloid Leukaemia. Shortly after, we reported further positive data from a second in vivo efficacy study, showing highly statistically significant tumour regressions even when the tumours were established at a much larger size.
‘These recent successes acted as the catalyst for this capital raise, and we are delighted by the support from both new and existing shareholders in this fundraise, which places us in a unique position to further advance the progress of BVX001 for patients with challenging-to-treat cancers.’
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