Posted on Monday 7th April 2014
Allergy treatment-maker Circassia has raised £200 million valuing the business at £581million, in the UK's largest biotech stock market listing in more than a decade. Circassia acquired the proprietary technology to ToleroTrans, an organ transplant anti-rejection technology from The University of Birmingham in 2007.
Circassia Pharmaceuticals Plc raised about 200 million pounds ($333.5 million) in an initial public offering to help fund development of allergy vaccines.
The offering is believed to be the biggest ever biotechnology fundraising in the U.K., according to Circassia.
“We got tremendous support, which is fantastic,” Chief Executive Officer Steven Harris said in a telephone interview. “It’s really allowing us to move the platform and launch further forward.”
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