Nuformix PLC (LSE:NFX) has issued 35mln shares priced at 0.2p each for £70,000 of cash proceeds, in a subscription by a single UK-based institutional investor.
"The funds … will progress NXP002 [an inhaled treatment of idiopathic pulmonary fibrosis] by undertaking additional key studies that in conjunction with our existing NXP002 data and ongoing studies, will enable the company to initiate discussions with potential licensees and support the overall progression of the NXP002 programme to improve the treatment of IPF via inhalation,” said Nuformix executive director Dan Gooding.