- Allergy and respiratory disease focused Circassia said it had entered into an equity finance facility worth up to £5m with two of its major institutional shareholders.

The shareholders -- North Atlantic Small Companies Investment Trust and Richard Griffiths -- would provide the company with access to additional liquidity, should it be required in the coming months.

They had committed to subscribe for up to a total of £5m of new Circassia shares, if a request was made by Circassia up until 30 November.

The subscription price would be the lower of 24.6p and the price at which Circassia may issue any other new shares for cash during the same period.

At 1:55pm: [LON:CIR] Circassia Pharmaceuticals Plc share price was -1.1p at 23.9p

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