SOURCE: Antisoma plc

December 05, 2005 02:24 ET

Antisoma placing raises £6.55 million

LONDON, UK -- (MARKET WIRE) -- December 5, 2005 --

London, UK: 5 December 2005 Cancer drug developer Antisoma plc (LSE: ASM) today announces that it has raised approximately £6.55 million (approximately US $11 million) before expenses through an oversubscribed placing of new ordinary shares. The shares were placed by ING with new and existing institutional investors in the UK and Continental Europe.

Commenting on the placing, Antisoma's Chief Executive Officer, Glyn Edwards, said: "This placing puts us in a strong position as we enter a period rich in newsflow. We expect to reach important progress milestones on a number of products during 2006 and, in particular, to report key outcome data from our three phase II trials of AS1404."

Details of the placing

  * 33,600,000 new ordinary shares of 1 penny each were placed,
    representing approximately 10 per cent of Antisoma's issued share
    capital prior to the placing.
  * The placing price was 19.5p, representing a discount of 4.88% to
    the closing middle market price on the London Stock Exchange on 2
    December 2005.
  * The placing is conditional on admission of the new shares to the
    Official List and to trading on the London Stock Exchange, which
    is expected to become effective on 9 December 2005.
  * When issued, the new shares will rank pari passu in all respects
    with Antisoma's existing ordinary shares.
  * Following the placing, Antisoma will have a total of 369,629,818
    ordinary shares in issue.

Glyn Edwards, CEO
Raymond Spencer, CFO
Daniel Elger, Director of Communications    +44 (0)208 799 8200
Antisoma plc

Mark Court/Lisa Baderoon/Rebecca Skye Dietrich  +44 (0)20 7466 5000
Buchanan Communications
Background on Antisoma

Based in London, UK, Antisoma is a biopharmaceutical company that develops novel products for the treatment of cancer. Antisoma fills its development pipeline by acquiring promising new product candidates from internationally recognised academic or cancer research institutions. Its core activity is the preclinical and clinical development of these drug candidates. In 2002, Antisoma formed a broad strategic alliance with Roche to develop and commercialise products from Antisoma's pipeline. Please visit for further information about Antisoma.

Copyright © Hugin ASA 2005. All rights reserved.

Contact Information