Circassia raises £200m in landmark biotech IPO
Allergy treatment-maker Circassia has raised £200 million, listing at the top of its range at 310p per share and valuing the business at £581 million, in the UK’s largest biotech stock market listing in more than a decade.
It means Imperial Innovations, the business which invests in spin-out companies from the UK’s top universities, has turned its £25.5 million investment into a stake worth £82 million.
Circassia’s cat allergy vaccine is in Phase III trials, at present recruiting another 400 patients to add to the 800 who will test the treatment for one year. It could then be submitted to the drug watchdogs and be on its way to treating the 24 million in the US alone who are allergic to cats.
Chief executive Steven Harris said: “We have a platform that can be rolled out to further allergies, and only need to get one product approved in US for all our shareholders to do very well. Being cat allergic can have a huge impact on people’s lives — even sitting on a bus next to someone with cat hairs can make people feel very unwell.”
Circassia — whose early backers included Neil Woodford’s Invesco Perpetual — is now also working on vaccines against hayfever and dust mite allergies.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 3 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
UK weather: Warning for more snow and ice as freezing temperatures and gales hit Britain
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Millions of Britons struggling to feed themselves and facing malnourishment
Immigrants make UK racist, says Ukip councillor Trevor Shonk
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...