King's, Invesco cash in on Proximagen

Russell Lynch
Thursday 14 June 2012 00:30 BST
Comments

King's College London and Invesco's leading fund manager Neil Woodford were among the big winners this week as the UK drugs developer Proximagen was snapped up by its US partner in a deal worth up to £356.8m.

Upsher-Smith, a 17 per cent shareholder and commercial partner of Proximagen since 2008, is buying the firm to boost its pipeline and research and development capacity.

The shares jumped 21 per cent to 335p and the acquisition sees King's 3.5 per cent stake valued at a potential £12.5m, while Mr Woodford's Invesco, the biggest shareholder with 26.8 per cent, lands up to £96m.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in