MMI raises £1m to fund oncology programmes
31 July 2008
Medical Marketing International (MMI) the life sciences company focused on the development of drugs for cancer, has raised gross proceeds of £0.95 million to fund the development programmes of its cancer vaccine and ruthenium chemotherapy technologies.
JM Finn Capital Markets, the company’s broker, placed just over 5m new shares with existing and new shareholders, including the company’s directors, at a price of 19 pence per share.
Phil Cartmell, MMI’s non-executive chairman, said: “his funding will help us develop the two lead products from our DNA vaccine and ruthenium chemotherapy technologies towards proof-of-principle prior to onward out-licensing to pharmaceutical partners.”
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