Drug discovery firm ImmuPharma (LON:IMM) has raised £7.7mln from the previously announced fundraise and is due to receive a further £0.7mln from advance assurances.
It has applied to HMRC to receive VCT Advance Assurance and / or EIS Advance Assurances to raise the further £0.7mln but these must be obtained no later than March 23.
The firm has said the cash will be used to fund its share of the costs of developing Lupuzor, its potential blockbuster drug for the autoimmune disease Lupus, which is currently undergoing phase III clinical trials and also provide the firm with its working capital requirements through to 2018.
Immupharma shares eased 2.08% to 23.5p.