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Hemogenyx Pharmaceuticals is seeking £60 million of investment via a new fundraising programme.
The pharmaceutical company has signed an agreement with Bahamas-based Mint Capital to issue up to £60m worth of convertible secured loan notes.
After the issue of the first tranche of £12 million in principal amount of convertible loan notes, use of the facility will be solely at the discretion of the Hemogenyx.
This will allow Hemogenyx to accelerate and broaden its development pipeline of novel therapies and treatments for blood cancers and viral diseases.
At 1:20pm: (LON:HEMO) Hemogenyx Pharmaceuticals Plc share price was 0p at 8.7p