One of Wales’ leading biotech firms, BiVictriX Therapeutics, has successfully floated on London’s Alternative Investment Market raising £7.5m (minus expenses) to support expansion plans.
The St Asaph based firm, is develop next-generation cancer therapies using insights derived from frontline clinical experience.
Existing lead investor, the Development Bank of Wales, supported the float with an additional £500,000 share purchase and remain the largest shareholder of the company with an 18% stake.
The float gives the company a valuation of more than £13m.
Tiffany Thorn, CEO and founder of BiVictriX Therapeutics, 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.”
Manchester-based legal firm Slater Heelis acted as legal advisers for BiVictriX on the company’s admission to the AIM,
Rhian Owen firm partner at Slater Heelis who led the transaction team, said: “BiVictriX is an exciting company developing novel treatments.
“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.”
