Investment opportunity
UK drug delivery company Phoqus Group plc is looking to raise £5 million in a placing of new shares.
The money will be used to progress Chronocort, for the treatment of congenital adrenal hyperplasia and adrenal insufficiency, through pivotal phase III clinical trials on patients.
The funds will also enable the company to build its portfolio of products based on its proprietary delivery technologies. Phoqus has a range of methods for optimising the release of active drug ingredients that are based on the electrostatic deposition technology that is at the heart of photocopying.
These include a fast dissolving technology in which tablets dissolve in the mouth in 10 to 20 seconds, methods for predictable and reproducible controlled release and combining two drugs in a single tablet with a different release profile for each.
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