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
December 02 2016
Newswire
October 13 2016

Related Articles

A graphic of a tumour growing in the body
July 07 2016
Nanobiotix is a late clinical-stage nanomedicine company researching novel approaches to enhance radiotherapy for the local treatment of cancer.
picture of drug research
Mon
“The positive results from this feasibility award may lead to other opportunities to secure additional funding awards to advance the programme further," Dr John Reader, Sareum's chief scientific officer said.
Blood test
September 27 2016
The group has ambitions to strengthen its transatlantic focus through organic and strategic growth

© Proactive Investors 2017

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.