Worthing-headquartered pharmaceutical company Allergy Therapeutics is to raise £10.6m as the company looks to enter what the company’s chief executive describes as a “transformational” period of growth.
The company, which specialises in allergy vaccines intends to use the proceeds to expand a planned clinical trial, part fund another trial and continue to progress its diversified pipeline.
Chief execuitive Manuel Llobet said: “Allergy Therapeutics is now well positioned for a transformational period of growth both with our marketed products and our R&D pipeline.
“With this successful placing and subscription, we will expand our planned Phase III PQ Grass trial, scheduled to start in H2 2019, including a project to analyse pollen trends in the US to maximise the exposure of patients to grass pollen.
“We will also support the Acarovac Phase II trial and, looking further out, further progress our diversified pipeline of patient friendly, convenient to use products including Polyvac Peanut.”
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