Abingworth invests $5.7M in IS Pharma

IS Pharma plc has raised 3.6 million pounds ($5.7 million) through the issuing of 4,613,160 new ordinary shares at 77 pence per placing share with Abingworth LLP, which has offices in London, California and Boston. Abingworth, which has funds under management of over $1.25 billion, is both a venture investor and an investor in publicly listed companies. The price paid for IS Pharma represents a 9 percent premium on the closing price – 70.5 pence – on October 5, 2010.

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