e-Therapeutics raises £1.33m through AIM listing

Katalyst-backed drug discovery company e-Therapeutics has raised £1.33m through a listing on AIM. Just less than two million shares were offered at 67p a share, a significantly lower price than was expected, representing a market capitalisation of £37.33m. The new funds will be used to continue the on-going development of the company's drug discovery pipeline and it is hoped that the listing will act to raise the profile of the business with potential licensing partners. Newcastle-based e-Therapeutics received a seven-figure funding round in April from Katalyst Ventures, Novotech Investment and NorthStar Equity Investors (21 May 2007, page 24/25) and has also previously received backing from RAB Capital.

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