finnCap Ltd’s £14 Million Placing For Synairgen plc

Osborne Clarke has advised finnCap Ltd on the placing for Synairgen to accelerate potential COVID-19 treatment trial. Fieldfisher acted for Synairgen.

Synairgen will use the fundraising to expedite an MHRA/HRA-approved trial of SNG001 (inhaled formulation of interferon-beta-1a) in COVID-19 patients to potentially assist with the global outbreak of the virus, the manufacture of the SNG001 drug product and for working capital requirements and strengthening the Company’s balance sheet.

COVID-19, caused by the SARS-CoV-2 virus, is a global pandemic and there is an urgent need to assess new treatments to prevent and effectively treat the severe lower respiratory tract illness that can occur with this disease. Older people and those with co-morbidities such as heart and lung complications or diabetes are at greatest risk of developing severe or fatal disease.

The placing was announced on 25 March 2019.

finnCap, led by Geoff Nash, acted as Synairgen’s nominated adviser, sole broker and sole bookrunner in connection with the placing.

The Osborne Clarke team that advised finnCap on the transaction was led by Partner Jonathan King (Picture) who was assisted by Senior Associate Ed Nisbet. Fieldfisher Partner Ed Westhead acted for Synairgen.

Involved fees earner: Ed Westhead – Fieldfisher; Jonathan King – Osborne Clarke; Ed Nisbet – Osborne Clarke;

Law Firms: Fieldfisher; Osborne Clarke;

Clients: FinnCap Ltd; Synairgen plc;