Tyneside pharma firm Shield Therapeutics seeks to raise $10m through subscription by largest investor

Pharma company Shield Therapeutics has announced a subscription by its largest investor to raise $10m.

The company’s main product, which treats iron deficiency anaemia, was first launched in Europe under the Ferracru brand in 2019 but is now available in the US and other countries as Accrufer. The Newcastle company has signed an agreement with AOP Health International Management AG, in which the major shareholder has conditionally agreed to subscribe for 256,410,256 new ordinary shares.

The agreement is part of a broader funding move, which sees the firm launch a conditional offer for its existing retail shareholders to purchase new ordinary shares, aiming to raise up to £1m. AOP’s subscription is subject t