Date: 2014-02-27
Type of information: IPO
Company: Horizon Discovery (UK)
Investors:
Amount: £25 million (€30.4 million)
Funding type: IPO
Planned used: These funds will be used to: -increase awareness of the Company’s services, products and leveraged R&D programs in their target markets; -expand the sales and distribution channels for the Company’s services, products and leveraged R&D programs; -expand the number of cell line and reagent products available for sale via increased product development and the in-license of new product ranges from third parties; -increase the pipeline of leveraged R&D opportunities delivering downstream milestone and product royalties; -expand the intellectual property portfolio, via licence or selective acquisition; and -acquire additional sales channels that deliver an expanded commercial offering and strategic geographical footprint
Others: * On February 27, 2014, Horizon Discovery, a UK life science company supplying research tools to organisations engaged in genomics research and the development of personalised medicines, has announced its intention to launch an initial public offering (IPO) of ordinary shares on the AIM market of the London Stock Exchange. The company aims to raise £25 million (€30.4 million).Based in Cambridge Horizon operates through three commercial units: contract research services, cell line and reagent products and leveraged research and development. The company is already generating revenue its proprietary GENESIS™ gene editing and X MAN™ cell line platforms. These platforms enable the understanding of the genetic basis of disease, the manipulation of genomes and the creation of genetically-defined human cell lines. Horizon has generated £6.6 million revenues in 2013, up > 70% on 2012 (126% CAGR from 2007 to 2013). Leveraged research and development potential future milestones payments currently totalling approximately £120 million plus royalties on tiered product sales. Horizon\'s strategy is to increase the scope of the commercial offering via internal product development, around the GENESIS™, X-MAN™ and GENASSIST™ product ranges, in-licensing and M&A. The company also intends to increase its IP portfolio in gene editing and add therapeutic area expertise beyond cancer and to expand its geographic footprint and commercial offering to achieve global market penetration.
Panmure Gordon is acting as Nominated Adviser and Broker to the Company.
Therapeutic area:
