LifeCycle Pharma raises $85M to bankroll LCP-Tacro
This article was originally published in Scrip
Executive Summary
Denmark's LifeCycle Pharma has raised DKK 475 million ($85 million) through a fully subscribed rights offering of 395,974,671 new shares at DKK 1.20 per share. The funds will be used primarily to complete the Phase III programme of LCP-Tacro, its once daily formulation of the tacrolimus immunosuppressant, in kidney transplant patients and bankroll its regulatory submissions with the FDA and European Medicines Agency (EMA), respectively.