Structure-based drug discovery specialist Sareum Holdings plc of Oxford, UK raised GBP 548,500 in a placing of 219,400,000 ordinary shares. The money will be used to provide additional working capital for the AIM-listed company.
Commenting on the announcement, Sareum's Chief Executive Officer, Tim Mitchell, said, “We are pleased to have been able to raise funds in difficult market conditions. This placing will provide valuable additional funds for the business.”
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