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NeuTec Pharma plc (NTP.L) To Raise $47.4M


10/19/2005 5:11:35 PM

MANCHESTER-based biotech firm NeuTec Pharma today unveiled plans to raise £25.8m to fund a sales drive and further clinical trials of its drugs. The AIM-listed company intends to place more than five million new shares to fund its application for market authorisation in Europe for Mycograb, a treatment for potentially-deadly fungal infections which may also help breast cancer and AIDS patients. Its share price has rocketed in the past couple of weeks since it announced a successful trial of Mycograb. The stock has soared from 300p to over 500p.



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