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Financings in Brief: Cortecs

This article was originally published in The Gray Sheet

Executive Summary

Cortecs: Firm raises [pound]12 mil. (roughly $18.5 mil.) in a private placement of 10.9 mil. new "ordinary" shares. The London-based manufacturer of drug delivery systems and rapid point-of-care diagnostics says proceeds will be used "in bringing forward the development of four new diagnostic products which are targeted for launch late in 1996." Projects in the works include development of diabetes tests via a collaboration agreement with Exocell ("The Gray Sheet" June 26, In Brief). Greig Middleton & Co. Ltd. effected the placement...

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