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C4X Discovery raises £5m

Manchester-based drug discovery and development company C4X Discovery has raised £5m through a share placing as it seeks to progress its existing "innovative pipeline towards the clinic".

The AIM-listed business has placed 4.9 million shares with current and new investors at a placing price of 102p each.

The cash raised will be used to further its pre-clinical pipeline towards clinical development and invest in developing new lead compounds.

Chief executive Clive Dix said: "The completion of this fundraise will allow C4XD to continue on its path to becoming the world's most productive drug discovery engine.

"We are already exploiting cutting edge-technologies to design and create best-in-class small molecule candidates."

C4X Discovery was advised by Schofield Sweeney’s Chris Schofield, Chris Blantern and Jessica Fielden.

 

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Chris Schofield

Chairman

Chris is the Chairman of Schofield Sweeney. He advises on corporate matters and regularly advises…

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