Despite finishing last year with £187m in the bank, allergy specialist Circassia (CIR) is asking investors to top up the company's coffers by an additional £275m. This is because Circassia wants to buy Swedish outfit Aerocrine and respiratory-focused company Prosonix - which could cost up to £239m in total.
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Chief executive Steve Harris said Aerocrine's "established sales force and commercial infrastructure" would prove useful when the company chooses to launch its Cat-SPIRE allergy product, while Prosonix's asthma products would "complement" Circassia's existing product portfolio. Roughly £30m is contingent on regulatory approval of Prosonix's lead asthma candidate.
