Business & Finance

Spanish biotech board authorizes raising funds through institutional investors

Published in Cancer Weekly, July 26th, 2005

Zeltia S.A, the Spanish consumer chemicals and biotechnology group announced that its board of directors has authorized a capital increase through a private placement with qualified international institutional investors.

The capital increase is expected to raise approximately 100 million euros (U.S. $121 million). A "green shoe" of up to 15% of the amount raised can be exercised by HSBC, which is the sole bookrunner on the transaction.

The funds raised will be used to further the continued research, development and commercialization of cancer products being developed by PharmaMar, Zeltia's biotech subsidiary.

PharmaMar is a...

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Source: Cancer Weekly (2005-07-26)

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