Date: 2014-03-13
Type of information: IPO
Company: Circassia (UK)
Investors:
Amount: £200 million (€238 million)
Funding type: IPO
Planned used: The funds will be used for the commercial launch of Circassia’s cat allergy programme Cat-SPIRE which is in an ongoing phase III registration study. Results are expected in H1 2016. They will also be used to support the final clinical phases of its ragweed, grass and house dust mite allergy programmes. These three programmes Ragweed-SPIRE (for the treatment of ragweed allergy), Grass-SPIRE (for the treatment of grass allergy), and HDM-SPIRE (for the treatment of house dust mite allergy) have already demonstrated clinical proof-of-concept in phase IIb studies. The Company expects that phase III data for Ragweed-SPIRE and Grass-SPIRE will be available in 2017 and phase III data for HDM-SPIRE will be available in 2019. Product candidates for the treatment of allergies to Birch, Alternaria (a common type of mould) and Japanese cedar are each in research and/or pre-clinical development. These product candidates were discovered using Circassia’s innovative technology, ToleroMune®, which was initially developed at Imperial College, London.
Others: * On March 18, 2014, Circassia Pharmaceuticals, a clinical-stage specialty biopharmaceutical company, has announced that its entire issued ordinary share capital of 187,422,379 ordinary shares has been admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s main market for listed securities under the ticker “CIR.”.
* On March 13, 2014, Circassia Pharmaceuticals has announced the successful pricing of its initial public offering. The offer price has been set at 310 pence per Ordinary Share. Based on the Offer Price, the total market capitalisation of Circassia at the commencement of conditional dealings will be approximately £581 million (€694 million). The Offer comprises 64,516,129 Ordinary Shares to be issued by the Company (prior to any exercise of the over-allotment option) and 2,903,227 existing Ordinary Shares to be sold by the Selling Shareholders. Total gross proceeds raised by the Company are expected to be approximately £200 million (€238 million) (prior to any exercise of the over-allotment option).
Therapeutic area: Allergic diseases - Immunological diseases
