In one of the largest UK biotech fundings of the past 10 years, Proximagen Neurosciences plc is raising £50 million (US$82.5 million) in a nondiscounted placing, a success that will be a shot in the arm for the sector as a whole. (BioWorld International)

LONDON - Synairgen plc has succeeded in raising £6.35 million (US$10.3 million) in a placing of 37 million shares at a minimal discount of 4.23 percent to fund proof-of-concept trials for inhaled interferon beta in treating exacerbations of asthma and chronic obstructive pulmonary disorder (COPD) caused by the common cold virus. (BioWorld International)