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C4X Discovery has announced that it has raised £5.0m before expenses via a conditional placing of 4.9m new shares, at a placing price of 102p. This represents a c 4.2% discount to the closing price of 106.5p (on 5 September). It is positive news as it provides the company with sufficient funds to continue driving forward its strategy of becoming a highly efficient and productive drug discovery engine and continue building its existing pipeline of five preclinical assets with the aim of tripling the pipeline in three years’ time.

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