Oxford BioMedica PLC (LSE:OXB) confirmed it has raised approximately £60 million through a placing and subscription, selling 13.9 million new shares priced at 431p each.
Proceeds will support expansion in the United States for the cell and gene therapy focused contract development and manufacturing organisation (CDMO) firm, as it seeks to build commercial-scale capacity and enhance productivity across clinical and commercial supply lines.
The company said it was pleased with the strong support received from new shareholders, including Massachusetts Institute of Technology, alongside existing shareholders Briarwood Chase Management, Novo Holdings and Institut Mérieux, amongst others.
The placing price reflected a meagre 1.93% discount to the prior close.
In London, Oxford Biomedica shares were up 1.75% changing hands at 447.65p.