Pharminox completes £2 million funding round and appoints Alan Miller as Non-executive Director
Nottingham, UK, 30 June 2008 - Pharminox Limited, ("Pharminox" or "the Company") the private UK oncology R&D company, today announced that it has successfully completed a new round of equity funding, raising just over £2 million from new and existing investors. The proceeds of the funding will be used to progress the Company’s portfolio of novel small molecule cancer therapeutics.
The Company also announced that following the fundraising, Mr Alan Miller, former Chief Investment Officer of New Star Asset Management, has joined the Pharminox Board as a Non-executive Director.
Commenting on today’s announcements, Peter Worrall, Chief Executive of Pharminox said, “The new funds will be used primarily to advance the lead candidates from our telomere targeting and redox homeostasis modulator programmes into full preclinical development, and I am very grateful to our shareholders for their continued support. I am also delighted to welcome Alan Miller to the Board. Alan brings a wealth of investment and financial experience, which will be invaluable as the Company moves to the next stage in its development.”