Redx Pharma To Raise £15 Million On Stock Market Debut

Efforts by two Merseyside biotechnology firms to raise tens of millions of pounds of fresh capital on the stock market to fund new drugs to treat cancer and other diseases have resulted in two very different outcomes. Daulby Street-based Redx Pharma has succeeded in raising £15m through placing new shares on the London Stock Exchange’s (LSE) Alternative Investment Market (AIM). A further £5m is expected to follow later this year. However, near neighbour Evgen Pharma, based at Liverpool Science Park on Mount Pleasant, has shelved plans to raise up to £20m on AIM after potential investors said they wanted to see more clinical trials data first. The firm may return to the public markets in a year or two.

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