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European law firm Fieldfisher's leading Equity Capital Markets team has advised AIM-quoted drug discovery and development company Synairgen plc on its recent fundraising.
The fundraising consisted of a subscription by TFG Asset Management UK, the Company's major shareholder,22 and resulting rule 9 waiver of the Takeover Code.
The proceeds from the fundraising will be used to help fund the trial of SNG001, the Company's potential broad spectrum anti-viral drug, in mechanically ventilated patients with confirmed respiratory viral infections. The investment will fund the trial until the interim analysis stage. Plans are underway to start the trial in the coming months.
The Fieldfisher team was led by Equity Capital Markets partner Edward Westhead, who also led on the company's £80 million fundraising in 2020, supported by Corporate Associates Georgia Keogh and Sophie Milne.
Ed said: "We are delighted to have worked with Synairgen on this important fundraising to fund this Phase II trial. The trial will address the key question of whether SNG001 can reduce mortality in mechanically-ventilated patients, who have a high unmet need of effective treatment options."
This success follows closely on the heels of another AIM-quoted life sciences fundraising for ValiRx plc, which completed on 31 December 2024. ValiRx plc was introduced to the firm by Co-head of Lifesciences Janita Good, with the fundraising itself again led by Ed Westhead, with support from Habibah Alao.
