ValiRx (LON:VAL) has raised £503,000 gross through a placing at 12p per to fund its drug development pipeline.
ValiRx has one drug, VAL201, going through phase I/II trials, and has made an application to start a second for another cancer treatment, VAL401.
Satu Vainikka, chief executive said: "We are delighted to be able to raise additional funds through this equity placing in a challenging market.
“These funds will enable the company to progress the clinical trial activity that was recently announced."