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Fieldfisher's top ranked equity capital markets team has advised Panmure Gordon as sole broker on an oversubscribed fundraising for AIM-listed Diurnal Group plc, a specialist pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases. The fundraising consisted of a placing, subscription and open offer to raise approximately £20 million.
The fundraise completed on 10 May 2021, following shareholder approval. The proceeds will be used to progress the pivotal Phase 3 studies of Diurnal's Efmody treatment, a modified-release formulation to mimic the physiological 24-hour profile of cortisol, in the US through to registration to treat congenital adrenal hyperplasia (CAH) and continued support of the group's earlier stage pipeline.
The Fieldfisher team advising Panmure Gordon was led by corporate partner Dominic Gurney-Champion, assisted by associate Lily Searle.
About Fieldfisher's Equity Capital Markets Team
Fieldfisher's leading equity capital markets team is one of only four firms in the UK to be ranked Band 1 in Chambers & Partners for Equity Capital Markets (AIM). In 2019 and 2020, we were the number 1 legal adviser on AIM by deal volume.