Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

ValiRx PLC tees up £4mln through convertible issue

The agreement will see Bracknor subscribe for the convertible loan notes in eight equal tranches of £0.5mln
ValiRx PLC tees up £4mln through convertible issue
ValiRx has one drug, VAL201, going through phase I/II trials

Cancer drug developer ValiRx Plc (LON:VAL) has set up a £4mln convertible loan facility with agreement with Bracknor Fund Ltd a private mutual fund incorporated in the British Virgin Islands.

The agreement will see Bracknor subscribe for the convertible loan notes in eight equal tranches of £0.5 million each. As part of the agreement, the Company has agreed to issue warrants to Bracknor. 

ValiRx has one drug, VAL201, going through phase I/II trials, and has made an application to start a second for another cancer treatment, VAL401.

PhilW.jpg
Why Invest In ValiRx Plc? Read More Here

Register here to be notified of future VAL Company articles
View full VAL profile

ValiRx Plc Timeline

Big Picture
May 19 2016

Related Articles

blood_56ceb82789b61.jpg
February 25 2016
The company's nominated adviser said a partnership deal should be signed by the end of 2016
Lab-(1).jpg
December 02 2015
Firm aims to expand regenerative medicine and in-vitro diagnostics business
Dendritic cells with T-lymphocytes
Thu
With cases of skin cancer on the rise, Scancell's immunotherapy study data has come at the right time, but is it enough to offset the insecurity in the sector?

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.