November 12, 2009 / 7:19 AM / 10 years ago

ThromboGenics to raise 40 mln euros - newspaper

BRUSSELS, Nov 12 (Reuters) - Belgian biotech company ThromboGenics THR.BR plans to raise 40 million euros ($60 million) in new shares to fund further growth, newspaper De Standaard said on Thursday.

The capital increase would raise the amount of shares in issue by a maximum of 10 percent, De Standaard said, adding that the group had asked brokerages Petercam and KBC Securities to lead the transaction.

The company was not immediately available for comment.

Thrombogenics said earlier this month it had completed patient enrolment for the U.S. Phase III study of its lead product microplasmin for treatment of back-of-the-eye disease.

Recruitment for its second Phase III trial was making good progress, it said.

The group, which develops drugs for conditions related to the vascular system, such as cardiovascular disease, visual disorders and cancer, also said at the time it had completed patient recruitment for a Phase II study for TB-402, its drug to prevent blood clots.

Thrombogenics had 43.1 million euros in cash and cash equivalents at the end of September, down from 60.9 million a year before. That could increase to some 80 million euros after the capital increase, De Standaard said. (Writing by Antonia van de Velde; Editing by Hans Peters)

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