Date: 2014-07-07
Type of information: IPO
Company: Abzena (UK)
Investors:
Amount: £20 million (€25.2 million)
Funding type: IPO
Planned used:
Others: * On July 7, 2014, Abzena, a revenue-generating life sciences company providing services and technologies that enable the development of better biopharmaceutical products, has conditionally raised £20 million (before expenses) by way of a placing of 25,000,000 new ordinary shares at 80 pence per share in conjunction with the forthcoming admission of its ordinary shares to trading on the AIM market of the London Stock Exchange. 3,398,750 existing ordinary shares are also being sold at the Placing Price.Application has been made for the Company’s entire issued share capital of 97,428,858 ordinary shares of £0.002 each (as enlarged by the placing of new ordinary shares) to be admitted to trading on AIM. It is expected that dealings in the ordinary shares will commence on AIM on 10 July 2014 under the ticker ABZA (ISIN number GB00BN65QN46). At the Placing Price, the market capitalisation of Abzena on Admission would be approximately £77.9 million. Cenkos Securities plc is acting as nominated adviser and broker to the Company. * On June 16, 2014, Abzena, a revenue-generating life sciences company providing services and technologies that enable the development of better biopharmaceutical products, announced its intention to launch an initial public offering and placing and to apply for the admission of its ordinary shares to trading on the AIM market of the London Stock Exchange. Cenkos Securities plc is acting as nominated adviser and broker to the Company. Abzena’s mission is to enable R&D companies to develop better biopharmaceutical products. The market which Abzena serves is growing, driven by an increase in outsourcing of R&D by major biopharmaceutical companies, as well as by biotechnology companies looking externally to access expertise and skills. The US market for applied research and preclinical drug development, the areas in which Abzena operates, is estimated at $9.6–$11.5 billion; the majority of Abzena’s revenues are derived from providing services to US customers. Abzena’s strategy is to continue to grow as a provider of services and technologies for biopharmaceutical R&D through expansion of its capacity to deliver services to its customers, investment in the development of new technologies and services and through strategic acquisition of additional technologies and capabilities. Abzena has been formed last May. The new company has been created to provide a strong group identity across its two wholly owned subsidiaries, PolyTherics and Antitope, following their combination in July 2013. During the summer PolyTherics’ operations will move from London to the Babraham Research Campus in Cambridge, the current site of Antitope\'s operations. It will also grow its operations on the Warwick University Science Park where it maintains a presence following the acquisition of Warwick Effect Polymers by PolyTherics in January 2012. Abzena’s services and proprietary technologies include immunogenicity assessment, protein engineering to create humanized antibodies and deimmunised therapeutic proteins, manufacturing cell line development; and bioconjugation technologies for antibody drug conjugate development and novel polymers for enhancing the therapeutic properties of biopharmaceutical products. Abzena is a privately owned UK company backed by institutional investors including Imperial Innovations (AIM: IVO), Invesco Perpetual, Mercia Fund Management, Advantage Enterprise & Innovation Fund (managed by Catapult Venture Partners), Capital Fund (managed by YFM), ProVen Growth & Income VCT and Oxford Technology VCTs.
Therapeutic area: Technology - Services
