Biopharma company Amryt has raised $40m in a private placement with biotech investors.
The money will be used for working capital and general purposes, the firm said.
It may also be used to buy, licence or invest in rare disease technologies, products, businesses or assets, the company added.
The investors includes new and existing investors such as Stonepine Capital, LP, Aquilo Capital Management, LLC, Amati Global Investors, Athyrium Capital Management, LP and Highbridge Capital Management.
Amyrt develops and commercialises novel medicines for the treatment of serious and life-threatening rare diseases.
According to stockbroker Davy, the placement will have a 10% dilutive effect on the existing share capital.
It will also bolster the firm's cash position, with gross cash increasing to $115m.
