Oxford Pharmascience Group is raising £2m at 1.3p a share.
At 1.5p a share, Oxford Pharmascience is currently valued at £8.66m.
The cash will be used to finance the development of new products. It will also be used to finance expected cash outflows from losses. There was £639,000 in the bank at the end of June 2012. The first half cash outflow was £466,000.
Oxford Pharmascience has three main technologies: soft chew technology OXPchew, taste-masking platform OXPzero and controlled-release technology OXPtarget.
There will be clinical studies in early 2013 to demonstrate the bio equivalence of our OXPzero™ ibuprofen salt.
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