Open Orphan, a Europe-focused pharma services company specialising in rare disease and so-called orphan drugs, plans to raise £5m (€5.9m) through a share placing. Open Orphan, a Europe-focused pharma services company specialising in rare disease and so-called orphan drugs, plans to raise £5m (€5.9m) through a share placing. In a statement, the company said it would offer new shares at a price of 6.1 pence per share to institutional and other investors. The fundraising has been underwritten up to £2.5m by Raglan Capital, an entity controlled by Cathal Friel, the chairman of Open Orphan. In December last year Open Orphan and Hvivo agreed the terms of a merger.

Source: Irish Independent January 31, 2020 08:15 UTC