Speciality pharmaceutical company Diurnal, which is headquartered in Cardiff, has revealed plans to raise £1m to aid the commercialisation of products.

Insider Media reports this follows a conditional placing which raised £5.35m before expenses.

Martin Whitaker, chief executive of Diurnal, said “Diurnal has continued to make strong progress across its business, including the successful launch of Alkindi in Europe and confirmation of the regulatory paths for Chronocort in Europe and Alkindi in the US, where regulatory submissions are planned for Q4 2019. The funds raised will allow us to progress our vision of becoming a world-leading specialty pharma company in endocrinology, in particular to support the commercial infrastructure for the further roll-out of Alkindi in Europe, paving the way for the expected future launch of Chronocort, and to secure partnerships for Alkindi and Chronocort outside of Europe.”