LONDON - Oxford Asymmetry International plc (OAI) signed an 18-month research agreement with Indianapolis-based Dow AgroSciences Inc. involving discovery, synthesis and screening of new compounds that show potential for biological activity and for use as agricultural chemicals.
OAI, of Abingdon, U.K., will receive a minimum of $1.2 million in fees plus development milestones and royalties.
In a further development for OAI, Tuesday saw dealings commence in its shares on the London Stock Exchange. The company said it raised £18.4 million through a placing, valuing OAI at £119.7 million.
The placing was fully underwritten by UBS Ltd., of London, while Cazenove and Co., of London acted as broker. - Nuala Moran