LONDON - Allergy Therapeutics Ltd. met the target of £15 million (US$26.7 million) in its listing on the Alternative Investment Market in London, but fell short of the hoped-for valuation of £55 million, placing 23 million shares at 73 pence each for a market capitalization of £46 million. (BioWorld International)

PharmAthene Inc. raised $50 million in its Series B round of financing. The Annapolis, Md.-based company, which is developing products to fight bioterrorism, plans to apply a portion of the funds to continue its development of ToxBlox, an inhibitor of anthrax toxin. (BioWorld Today)