Rosenblatt has advised WH Ireland Limited and WG Partners (a division of Charles Stanley & Co. Limited) on a conditional placing, subscription and open offer by Verona Pharma plc to raise up to £14m. WH Ireland and WG Partners were joint brokers to Verona Pharma on the fundraising and WH Ireland is the company’s nominated adviser.
Verona Pharma is a drug development company focused on the development of high value, “first-in-class” drugs for severe, specialist-treated respiratory diseases.
The placing, subscription and open offer are conditional on, amongst other things, shareholder approval at a general meeting convened for 24 March 2014.
Nick Foss-Pedersen from Rosenblatt’s corporate team advised WH Ireland and WG Partners on the fund raising.