Published By : 14 Sep 2015 | Published By : QYRESEARCH
Acacia Pharma has targeted an IPO of nearly £150 mn on the London Stock Exchange. It is one of the more recent resurgent financing strategies in the British life sciences sector.
The pharma company from the U.K. has been a pioneer in discovering new uses for older drugs. One example of this is a treatment to subdue nausea and vomiting that afflicts a patient post-surgery. The researchers at Acacia are using a low dose iteration for an old drug that was used to treat psychosis and schizophrenia. The drug was in use nearly twenty years ago.
The chief executive at Acacia Pharma, Julian Gilbert, calls the process repurposing. He said that this process allows for a lower development cost of drugs and a faster time to market due to the proven safety of the base drug that was already in use.
The company will announce its intention to float on Monday. Although an accurate fundraising target will not be revealed, those acquainted with the pharma company’s plans has stated that the aim will be for nearly £150 mn.
If the company reaches this target, it shall become the second-largest pharma floatation in London. The earlier since 2005, was a £200 mn IPO float raised by Circassia in 2014.
The IPO would add to an array of similar ones that have propelled that U.K. life sciences sector’s financing to the highest it has seen in ten years.
Another British pharma company, the Newcastle-based Shield Therapeutics, had announced last week that they were planning to generate £110 mn in October on the London Stock Exchange.