- Verona Pharma has successfully secured funding commitments to raise gross proceeds of c. £44.7 million (US$63.3 million), through a conditional placing with new and existing investors.

These include a number of specialist US, UK and European healthcare funds. The placing was significantly oversubscribed.

The net proceeds of the placing are expected to fund RPL554 through a phase 2b clinical trial in chronic obstructive pulmonary disease (COPD) patients and additional phase 2 studies in both COPD and cystic fibrosis.

At 1:06pm: [LON:VRP] Verona Pharma PLC share price was +0.65p at 3.48p

Story provided by