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Ardana Bioscience

Ardana has raised £11m in a share placing to fund the expansion of its Edinburgh-based pharmaceuticals business.

Ardana Bioscience is considering plans for a flotation next month to fund the expansion of its pharmaceuticals business.

Ardana, the Edinburgh-based biotechnology company, has secured £9m of new funding to expand its sales and marketing operations and to pursue further licensing opportunities.

Ardana Bioscience has acquired Europeptides, the French pharmaceuticals research company, for up to £18m, and is also in discussions with several US companies about the possibility of marketing their drugs in Europe.

Ardana, the reproductive healthcare specialist, has secured £13m of venture capital, and is now looking for up to 15 scientists and new offices on one of Edinburgh's science parks.