London Stock Exchange welcomes Shield Therapeutics plc
The AIM Market of the London Stock Exchange today welcomed Shield Therapeutics plc (“Shield” or the “Company”) as dealings commenced in its Ordinary Shares and Warrants under the symbols “STX” and “STXW”, respectively
Shield Therapeutics plc is a specialty pharmaceutical company focused on the development and commercialisation of secondary care-focused pharmaceuticals that effectively treat unmet medical needs. The Company has two lead assets: Feraccru, a novel and effective oral ferric iron-based prescription pharmaceutical product which has received a unanimous and positive CHMP recommendation for its marketing authorisation application to treat iron deficiency anaemia in patients with inflammatory bowel disease, and PT20, a novel iron-based phosphate binder being developed for the treatment of hyperphosphatemia related to chronic kidney disease.
Shield raised £32.5 million through the placing and subscription of 21,666,662 new Ordinary Shares at a price of 150p per Ordinary Share and the issue of 11,666,658 Warrants to subscribe for Ordinary Shares. On admission the Company will have a market capitalisation of approximately £162 million.
Carl Sterritt, Founder and Chief Executive Officer said: “We are delighted to be admitted to trading on the AIM Market of the London Stock Exchange. This is a landmark event for the Company which provides us with an excellent platform for growth. In uniquely difficult capital markets, the enthusiasm we have received from investors is a real testament to the quality of the people and the products that form the business and our thanks go to everyone who participated. With the IPO behind us we are now focused on rapidly turning the company into a revenue-generating specialty pharmaceutical business via the imminent regulatory approval and commercial launch of Feraccru in Europe, whilst also furthering Feraccru’s development to enable expansion of the indications and geographies in which it can be commercialised.”
Liberum Capital Limited is the Nominated Adviser and Sole Broker to the Company, the legal advisor is Stephenson Harwood LLP and Consilium Strategic Communications is the financial PR advisor to the Company.