StockMarketWire.com - Clinical stage biotechnology company ValiRx said it had raised £0.2m via a share placement to alleviate funding pressures.

New shares in the company were issued at 3.5p each, with completion conditional on shareholder approval of a recapitalisation plan.

ValiRx announced last month that its working capital position was 'extremely weak', with the company dependent on the support of its creditors to continue trading.

Proceeds from the placement would provide working capital and help cover creditors for services critical to the company's operation.


At 1:59pm: [LON:VAL] ValiRx PLC share price was -0p at 0.04p



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