Medgenics Inc has raised £836,000 at 5p a share.
Israel-based Medgenics is a biopharmaceutical company, which has developed a technology that could replace regular injections as a treatment for various ailments. The cash will go towards the recruitment and treatment of patients for Medgenics’ phase I/II anaemia trial. The company intends to use higher fixed dosage levels.
Medgenics is hopeful of signing up additional partners for its Biopump technology. .
At 6.25p a share, up 0.75p on the day, Medgenics is valued at £7.48m.
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