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Financings in Brief: Cortecs International

This article was originally published in The Gray Sheet

Executive Summary

Cortecs International: Raises [pound]46 mil. (roughly $70.6 mil.) in a private placement of 12.5 mil. "ordinary" shares to "institutions in the U.K., Europe, Japan, and the Far East." Shares in the placement "rank pari passu in all respects with the existing ordinary shares with respect to both capital and dividends," Cortecs says. The London-based firm, which recently received 510(k) clearance from FDA for its Helisal point-of-care Helicobacter pylori test, says funds from the offering "will be primarily applied to bringing forward and developing" its oral drug delivery products, several of which are in clinical trials...



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