Newcastle-based Pharma company Shield Therapeutics set for £110m listing
Tuesday, September 08, 2015
Newcastle-based pharmaceutical firm Shield Therapeutics plans to float on the London Stock Exchange next month, in a listing expected to raise £110m.
Shield is the latest in a number of bio-tech companies that have listed in recent months, taking advantage of Britain’s burgeoning healthcare industry. Californian drug discovery group Verseon raised $100m in London in May, while Denmark-based UniBio recently announced plans to list in London later this year.
Shield Therapeutics is raising money from investors to launch two products next year: Feraccru, an oral pharmaceutical product used to treat iron deficiency anaemia; and PT20, a form of medication used in the treatment of chronic kidney disease.
“We believe each of our late-stage products has the potential to meet a significant unmet need for prescribers and patients. This IPO will raise the additional funds needed to continue the development and commercialisation plans of our key products as we work to build a world-leading independent specialty pharmaceuticals business based in the UK,” said Carl Sterritt, chief executive of Shield Therapeutics.
Healthcare and pharmaceutical companies have been benefiting from ageing populations in the developed world and the growth of the middle class in emerging markets.
telegraph.co.uk
