London Stock Exchange welcomes NetScientific plc to AIM

  • London Stock Exchange Market Open
 

Monday 16th September 2013

NetScientific plc, the healthcare medical technology company, is delighted to be joining AIM today. The Group identifies, develops and commercialises research and technologies originating from leading universities, teaching hospitals and research institutes globally, particularly in the United Kingdom and the United States. The Group is primarily focused on identifying and developing research and technologies for use in five chronic disease areas within the healthcare diagnostics sector: (i) cardiovascular; (ii) liver; (iii) cancer; (iv) metabolic; and (v) digital health.

The offer, conducted by way of a conditional placing with institutional investors by Liberum Capital Limited, raised gross proceeds of £30 million. The net proceeds will be used to fund working capital to accelerate to the market its two leading portfolio companies, WANDA, Inc. and Vortex BioSciences, Inc., whilst developing its other core spin-out companies and pipeline projects.

Farad Azima, Chief Executive, said: “The successful Admission to AIM represents an important milestone for the Group and we believe that, following our entry onto the market, we can build substantially on our current position.

We are passionate about investing in transformative technologies and believe we have the best people and network to identify, invest and bring to market innovations that will provide good returns for our shareholders and significant benefits to the healthcare industry.”

Liberum Capital Limited acted as NOMAD and broker to NetScientific in the IPO.