Shareholders in drug developer Amarin will buy up to $30 million worth of new stock in the company after it revised the terms of a fund-raising deal. The company intends raising a total of $55 million to secure its long-term future. Originally, shareholders were to purchase $35 million of new stock.

But under new non-binding terms announced yesterday, shareholders will buy $30 million, with the balance of $25 million “reserved for other investors mutually acceptable to both the company and the lead investors”.

Amarin has also extended the repayment date for its bridging loan to August 31st.

The company also announced yesterday that it has agreed to sell its interest in a treatment for emergency seizures to rival Elan for $700,000.