Nuformix PLC (LSE:NFX) (Nuformix PLC (LSE:NFX)) chairman Dr Alastair Riddell talks to Proactive about raising £1.65mln via a subscription agreement with Lanstead Capital, an investment firm that backs small- and mid-cap growth companies.
The proceeds will be invested in further research and development work on Nuformix’s drug candidates NXP002 and NXP004. Specifically, the cash injection will allow the group to make the former ‘phase 1-ready’.
It will also fund ‘business development activities’ with potential licensees for assets.