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Abzena placing to raise £25m

05 April 2017 09:45

Abzena, the life sciences group providing services and technologies to enable the development and manufacture of biopharmaceutical products, has announced a placing to raise around £25m to expand its service offering, capacity and capabilities.

Chief executive John Burt said: "Our existing and prospective customers are developing novel but complex biological therapies for a wide range of diseases, from rare genetic childhood disorders to cancer.

"Our experience and reputation as a biopharma service and technology provider continues to grow and as a result our customers' demand is currently outstripping our capacity."

"This new funding will enable us to build on the Group's foundations, maximising the opportunities being presented to us and accelerating progress to sustainable profitability."

The placing is conditional on shareholder approval.

At 9:45am: (LON:ABZA) Abzena Plc share price was -3p at 34.5p

Story provided by StockMarketWire.com

Related Company: ABZA

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