London Stock Exchange welcomes Clinigen Group plc to AIM
Monday 8th October 2012
Clinigen Group plc, the fast-growing, global specialty pharmaceuticals and pharmaceutical services business, was at the London Stock Exchange today, celebrating the Company’s Admission to AIM and the listing of its shares, which commenced trading on 25 September 2012.
Clinigen comprises two divisions – Services and Products. Within the Services division, there are two operations: ClinigenCTS, which offers Clinical Trial Supply services, and ClinigenGAP, which offers Global Access Program (“GAP”) services. The Products division owns and supplies Foscavir® (acquired from AstraZeneca in 2010) and intends to acquire, and grow sales of, additional niche hospital-only drugs.
Clinigen currently manages the supply of drugs into a total of 53 countries, which are used in the therapeutic areas of leukaemia (and other oncology), haematology, transplantation, anti-infective, pain management, gastrointestinal and hospital and critical care, as well as orphan diseases.
The Company will use the gross proceeds of £10 million it has raised from the placing to support the acquisition of the rights to new products, to invest in IT systems and for general working capital.
Peter George, Chief Executive Officer of Clinigen Group, commented:
“I am delighted that Clinigen has joined AIM and our share price has made a good start. We believe that a listing on the London Stock Exchange is critical for the development of the business. The funds raised will enable us to maintain our strong international growth record by providing a solid platform to continue to develop both organically and through acquisition of new pharmaceutical products. Our underlying principle remains to get ‘the right drug to the right patient at the right time’.”
Numis Securities acts as Nominated Adviser and Broker to the Company.