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InnovaDerma raises £4.4m

06 October 2017 07:20

InnovaDerma has raised £4.4m, gross, through a placing of 1.6 million new ordinary shares at 276p apiece. The shares represent approximately 12.7% of the existing issued share capital and the price represents a discount of approximately 14% to yesterday's closing mid-market price.

The company said the net proceeds would be used for additional working capital purposes, investment into key marketing programmes across the product portfolio and employment of new talent in multiple markets, especially in the US and Australia.

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