Cheshire biotech firm floats on AIM, valued at £13.2m
Emerging Cheshire biotechnology company, BiVictriX, has floated on the Alternative Investment Market (AIM), which involved the placing of shares to raise £7.5m gross proceeds, giving the company a market capitalisation of £13.2m.
BiVictriX, based at Alderley Park, develops next-generation cancer therapeutics by applying state-of-the-art techniques using insights derived from front line clinical experience.
Manchester law firm Slater Heelis acted as legal advisers for BiVictriX and its corporate team has acted for the company since its initial funding rounds.
Rhian Owen, firm partner at Slater Heelis, who led the transaction team, said: “BiVictriX is an exciting company developing novel treatments.
“We’ve been delighted to assist BiVictriX through its funding rounds over the last few years, guiding the company through its initial growth phases to its admission to the AIM market.”
Simon Wallwork head of corporate at the firm, said: “Slater Heelis’s corporate department has vast experience in helping dynamic, early stage biotech companies throughout all stages of their development, and I’m proud that we’ve been able to leverage our expertise and deep sector knowledge to support BiVictriX to reach this major milestone and attract funding to enable it to take its technology through the next stages of development.”
Tiffany Thorn, chief executive and founder of BiVictriX Therapeutics, said: “The listing on London’s AIM market is a major milestone for BiVictriX.
“Our vision is to revolutionise cancer therapy for the most difficult to treat cancers, making curative treatments available to all.
“The funds raised will help us to accelerate our growth and expedite the development and delivery of our pioneering, highly selective cancer therapeutics to patients diagnosed with some of the most challenging cancers and supporting patients who are currently in urgent need of more effective medicines.”
