The funds from this placing will be targeted at accelerating growth within contract manufacturing and aiding the commercialisation phase of its R&D projects.
European law firm Fieldfisher is pleased to announce its role in advising Cavendish Capital Markets Limited (“Cavendish”) (the investment bank resulting from the merger of Cenkos Securities and finnCap) on the successful fundraising for RUA Life Sciences plc ("RUA"). The fundraising, comprising a placing, subscription, and retail offer, has conditionally raised gross proceeds of approximately £4 million.
RUA is an AIM-listed company in the life sciences sector, dedicated to advancing healthcare through cutting-edge research and development projects. It is actively involved in pioneering research in vascular graft and heart valve leaflet composite materials, contributing to advancements in the field of cardiovascular health. This fundraising represents a significant milestone for RUA, providing the necessary resources to propel its life-changing initiatives forward.
Cavendish is a full-service investment bank delivering services across equity capital markets, M&A, debt advisory, and growth capital.
The deal follows on from other recent capital markets activity the firm's leading ECM team has advised on, including the recent £200 million fundraising and reverse takeover carried out by SigmaRoc plc, the £8 million fundraising for CleanTech Lithium and the fundraise for biotech Link Biologics to support their innovative dry eye disease (DED) program in partnership with Théa Open Innovation.
Ed Westhead, Equity Capital Markets Partner at Fieldfisher, commented as follows: “We are delighted to have supported Cavendish and RUA in their successful fundraising, in what remains a challenging market environment. Despite prevailing market conditions, the team has been incredibly busy towards the end of this year and has advised on a number of significant capital markets deals. We hope this flurry of activity is indicative of a more positive new year. The life sciences sector is a key focus area for the team and the wider firm so we are very happy to have supported this transaction.”
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