MONEY TO GO ON DRUG TRIALS

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Auckland biotechnology company Neuren Pharmaceuticals plans to use A$6.4 million ($6.81 million) raised from a share placement for drug trial programmes. The company -- listed on the Australian Stock Exchange -- said yesterday that it had sold 12 million fully paid ordinary shares at 53Ac. Neuren said the capital would principally be used to accelerate clinical trial programmes for Glypromate and NNZ-2566.

New Zealand Herald (http://www.nzherald.co.nz/section/story.cfm?c_id=3&ObjectID=10358237)