Shield Therapeutics announces intention to float on the London Stock Exchange

Shield Therapeutics has announced its intention to proceed with an Initial Public Offering and fundraising of Shares to certain institutional and other prospective investors to raise gross proceeds of up to £110 million.

Application will be made to the UK Listing Authority and the London Stock Exchange for all of the issued and to be issued Ordinary Shares in the Company to be admitted to the premium segment of the Official List and to trading on the London Stock Exchange’s Main Market for listed securities. It is expected that admission will become effective and that unconditional dealings for normal settlement in the Ordinary Shares will commence on or around 9 October 2015.

Carl Sterritt, CEO of Shield Therapeutics (pictured) comments: “Shield Therapeutics is at a very exciting stage in its development and this IPO marks another important step in the maturity of the Group as we move from a development focus to one that has revenue generation at its heart. We have a European application for marketing approval of Feraccru currently under review by the European Medicines Agency and have also completed a successful pivotal phase 2b study with PT20.

“The IDA and hyperphosphatemia markets are both large and growing and 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.”

Dr Andrew Heath, Non-Executive Chairman of Shield Therapeutics, adds: “Shield Therapeutics is operating in a large and growing market with pharmaceutical products in late-stage development that have the potential to make a meaningful impact on society. Shield’s Board and executive management team has a strong track record in both commercialising pharmaceuticals and creating value for shareholders. We look forward to joining other highly respected pharmaceutical peers on the London Stock Exchange.”


A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site but journalism costs money and we rely on advertising and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites with a small donation of even £1, your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

In the meantime may I wish you the very best.

- Advertisement -

FDA approves Roche’s Phesgo for HER2-positive breast cancer

The FDA has approved Phesgo, the fixed-dose combination of Perjeta (pertuzumab) and Herceptin (trastuzumab) with hyaluronidase, administered by subcutaneous injection in combination with intravenous...

Carmine Therapeutics & Takeda to develop novel on-viral gene therapies

Carmine Therapeutics has signed a research collaboration agreement with Takeda to discover, develop and commercialise transformative non-viral gene therapies for two rare disease targets...

Catalent to fill-finish manufacture Moderna’s COVID-19 vaccine canidate

Moderna and Catalent have entered into a collaboration for large-scale, commercial fill-finish manufacturing of the former’s mRNA-based COVID-19 vaccine candidate (mRNA-1273) at the latter’s...

Enrolment opens for 4D Pharma’s phase II study of live biotherapeutic in COVID-19

4D Pharma, the listed Leeds-based pharma company developing Live Biotherapeutics, has announced that its Phase II clinical trial of oral immunomodulator MRx-4DP0004 for patients...

Pharma industry invests £381m in UK R&D activities

The pharmaceutical industry has invested £381.2 million on R&D activities in the UK during 2019, up from £377.3 million in 2018, according to new...

Related news

CDMOs team up to simplify processes, optimise time-to-market

CDMOs Vetter and Rentschler Biopharma are collaborating to enhance their services and offer complementary skills and experience along the biopharmaceutical value chain. With drug development...

FDA approves Roche’s Phesgo for HER2-positive breast cancer

The FDA has approved Phesgo, the fixed-dose combination of Perjeta (pertuzumab) and Herceptin (trastuzumab) with hyaluronidase, administered by subcutaneous injection in combination with intravenous...

Carmine Therapeutics & Takeda to develop novel on-viral gene therapies

Carmine Therapeutics has signed a research collaboration agreement with Takeda to discover, develop and commercialise transformative non-viral gene therapies for two rare disease targets...

Catalent to fill-finish manufacture Moderna’s COVID-19 vaccine canidate

Moderna and Catalent have entered into a collaboration for large-scale, commercial fill-finish manufacturing of the former’s mRNA-based COVID-19 vaccine candidate (mRNA-1273) at the latter’s...