Cancer drug developer Antisoma plc today announces that it has raised approximately £6.55 million (approximately US $11 million) before expenses through an oversubscribed placing of new ordinary shares. The shares were placed by ING with new and existing institutional investors in the UK and Continental Europe. Commenting on the placing, Antisoma's Chief Executive Officer, Glyn Edwards, said: "This placing puts us in a strong position as we enter a period rich in newsflow. We expect to reach important progress milestones on a number of products during 2006 and, in particular, to report key outcome data from our three phase II trials of AS1404."
Biotech Intelligence (http://www.biotech-intelligence.com/html/html/435e75a921eee7372ec23acf40f55f53.html)