Sareum Holdings PLC (LON:SAR) has raised £700,000, before expenses, through a share placement to support drug development programmes and supply working capital.
The specialist cancer drug discovery and development company placed 100 million new ordinary shares of 0.025p each at a price of 0.7p per share.
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Application has been made for the placing shares to be admitted to trading on the London Stock Exchange, which is expected to happen on 22 November.
The company will have a total of 2.7 billion shares in issue after the placing.