Evgen Pharma (TheraCryf) raises £1.05M to advance addiction treatment into clinical trials
What's the deal? AIM-listed biotech Evgen PharmaDealroom has a profile for this one. Try Dealroom → (TheraCryf) is raising £1.05 million to finish development work on its lead addiction treatment and find a commercial partner. The Cheshire firm is placing 416,388,888 shares and issuing 166,944,440 subscription shares to new and existing investors at 0.18 pence per share.
What's the endgame? Evgen Pharma is developing an Orexin-1 antagonist for addiction and other neuropsychiatric disorders. The raise is meant to advance that lead programme towards clinical trials and secure a partner to take it further.
Why now? Chief executive Huw Jones said the company had "made excellent progress in advancing our lead orexin-1" programme, positioning the fundraise as the next step in that push.
The signal: The placing keeps a small-cap developer funded through a critical stage — completing development and lining up a commercial partner — a common path for AIM biotechs that need capital to reach clinical milestones before a larger deal.
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