Cyclacel raises $15.2 million as it prepares AML candidate for Phase III
This article was originally published in Scrip
Executive Summary
Cyclacel Pharmaceuticals has raised $15.2 million ($14.1 million net) in a private placement of 8.32 million units at $1.82625 each to institutional investors as its lead compound is prepared for Phase III trials. The institutions also have the option to acquire up to an additional 4.16 million units at $1.67 each at any time up to nine months after the closing, which would raise an additional $6.9 million for the company.