Cyclacel Pharmaceuticals is raising $45 million through a private stock placement to fund the pipeline development of several key drug candidates. "The proceeds of the financing together with our current cash, cash equivalents and marketable securities should provide the financial resources to expand development activities with the company's three development stage anti-cancer products, seliciclib, sapacitabine and CYC116. In addition, it will allow us to advance our preclinical drug pipeline developed from our research activities in cell cycle biology," said Spiro Rombotis, president and CEO of Cyclacel.
- read the company's release for more