YORK PHARMA RAISES £5M

York Pharma, the AIM-listed strategic acquirer, developer and marketer of pharmaceutical products in the field of dermatology, has raised £5 million via a placing with institutional and other investors. A total of 4,716,982 shares at a placing price of 106p per share raised the cash for the Hitchin based company. The proceeds will be used to accelerate the process of acquiring additional prescription dermatology products, to establish and build York Pharma's UK sales and marketing capability as well as to develop new clinical indications for its lead product Abasol.

Business Weekly (http://www.businessweekly.co.uk/news/view_article.asp?article_id=9746)