Sinclair Pharma to raise £19 million

Sinclair Pharma is raising £19 million to repay debt, buy product licences and develop existing technologies.


Sinclair Pharma is raising £19 million to repay debt, buy product licences and develop existing technologies.

Oral health and dermatology specialist Sinclair Pharma is raising £19 million at 28p per share to repay a debt facility, buy product licences and develop existing technologies.

Chris Spooner, the ex-healthcare-related hedge fund boss now running the fully-listed company, says ‘established shareholders’ are putting up the money to support his growth strategy.

He says the funds raised will repay a ‘restrictive debt facility’ from a division of the Octopus Investments group, develop existing products Flammacerium (wound care) and Delmopinol (anti-plaque) and finance licensing rights to two products, drug giant Novartis’s Terbanafine athlete’s foot spray and US group Advanced Bio Technologies’ gel and spray scar reduction formulation, Kelo-cote.

Spooner has been restructuring loss-making and cash-hungry Sinclair and more deals could be in prospect.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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