An emerging biotech company developing new cancer treatments has raised £7.5m gross proceeds after floating on the London Stock Exchange, giving a market capitalisation of £13.2m.
BiVictriX today announced the admissions of its entire issued and to be issued ordinary share capital to trading on the Alternative Investment Market (AIM).
With bases in both Alderley Park, Cheshire and St Asaph, Denbighshire, the firm applies state-of-the-art techniques using insights derived from frontline clinical experience to develop safer, more effective cancer therapies.
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Tiffany Thorn, CEO and founder of BiVictriX Therapeutics plc, said: “The listing on London’s AIM market is a major milestone for BiVictriX.
"Our vision is to revolutionise cancer therapy for the most difficult to treat cancers, making curative treatments available to all.
"The funds raised will help us to accelerate our growth and expedite the development and delivery of our pioneering, highly selective cancer therapeutics to patients diagnosed with some of the most challenging cancers and supporting patients who are currently in urgent need of more effective medicines.”
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Manchester-based legal firm Slater Heelis acted as legal advisers for BiVictriX on the company’s admission to the AIM market, with trading commencing at 8am on August 11.
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Rhian Owen firm partner at Slater Heelis who led the transaction team, said: “BiVictriX is an exciting company developing novel treatments.
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"We’ve been delighted to assist BiVictriX through its funding rounds over the last few years, guiding the company through its initial growth phases to its admission to the AIM market.”
Simon Wallwork Head of Corporate at the firm, added “I’m proud that we’ve been able to leverage our expertise and deep sector knowledge to support BiVictriX to reach this major milestone and attract funding to enable it to take its technology through the next stages of development.”