By Sheri Kasprzak
New York, Nov. 16 - Oxford Biomedica plc said it plans to raise £30.1 million from a financing that includes a private placement, an open offer and an investment from Sigma-Aldrich.
Under the terms of the private placement, Oxford will issue 108.8 million shares at 25p each.
Under the terms of the open offer, Oxford plans to issue one share for every 14 existing shares held by qualifying shareholders.
The private placement is being underwritten by Evolution Securities.
Sigma-Aldrich Co., a life sciences company based in St. Louis, has also agreed to buy £2.9 million in shares at 25p each.
Proceeds from the financing will be used for a phase 3 trial of TroVax, the company's drug for renal cell carcinoma.
Based in Oxford, England, Oxford Biomedica is a biotechnology company focused on gene therapy.
| Issuer: | Oxford Biomedica plc
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| Issue: | Stock
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| Amount: | £27.2 million
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| Shares: | 108.8 million
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| Price: | 25p
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| Warrants: | No
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| Underwriter: | Evolution Securities
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| Announcement date: | Nov. 16
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| Stock price: | 28p at close Nov. 16
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