March 13, 2014 / 11:11 AM / 3 years ago

BRIEF- Vectura raises about 52 mln stg through placing

March 13 (Reuters) - Vectura Group PLC : * Placing of approximately 33.6 million new ordinary shares, raised approximately £52.0 million * Placed by Peel Hunt LLP , J.P. Morgan Securities Plc at a price of 155 pence per placing share * Placing shares being issued represent about 9.9 percent of the issued ordinary share capital of Vectura prior to the placing * Intends to use the net proceeds to progress the development of Favolir and launch and/or partner Favolir in the EU and US markets * Any remaining proceeds will be used to fund the development of the enlarged group's pipeline * Source text for Eikon: * For more news, please click here

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