London Stock Exchange welcomes Abzena to AIM
London Stock Exchange today welcomes Abzena plc, a UK life sciences company, to AIM, on which its shares begin trading today under the ticker ABZA. Abzena raised £20 million in conjunction with its Admission to AIM, and has a market capitalisation on admission of £77.9 million.
Abzena is a revenue-generating business offering services and technologies to enable R&D companies in the pharmaceutical sector to develop better biopharmaceutical products, i.e. therapeutic antibodies and proteins with improved efficacy, fewer side effects, more predictable quality and/or improved patient compliance.
Abzena combines a growing, high-margin service business with the potential for substantial longer term revenues from licences to its proprietary technologies. The Company has built a global customer base over the past decade, which includes the majority of the top 20 biopharmaceutical companies as well as large and small biotech companies and academic groups.
Proceeds from the IPO will be used to increase service capacity to meet growing demand, develop and expand existing technologies in-house and acquire or in-license complementary services and technologies.
John Burt, CEO of Abzena said: “We are delighted to have completed our IPO. We are confident that the business we have created for enabling our customers and partners to develop better biopharmaceuticals will thrive as pharmaceutical companies increasingly seek external expertise to advance their projects. We believe that Abzena is well positioned to capitalise on this demand and we’re excited about the opportunity to grow and develop the business, and to deliver value to all our stakeholders.”
Cenkos Securities plc is acting as nominated adviser and broker to the Company.