Shares in pharmaceuticals company Plethora Solutions jumped sharply on Thursday after the group reported that it was in 'advanced discussions' with an investor to provide new equity financing to the group.

The group, whose share price had recently been declining, added that support was also being sought from a number of additional institutional investors and that discussions were ongoing with the company's three debt providers.

"The amount of the financing, if concluded, is expected to provide adequate funds to meet the central corporate costs and the regulatory costs of PSD502 through to the anticipated European approval date, a critically important milestone," the group reported.

Shares in Plerthora Solutions were up 22.22% to 1.65p at 08:34 on Thursday.

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