Business
Admission to AIM
Admission to AIM.
About this update from Genedrive Plc
[{"type":"text","content":"\n EpiStem Holdings plc\n04 April 2007\n\n4th April 2007\n\n\n\n\n\n\n\n\n\n\n EpiStem Holdings Plc.\n\n Fundraising and Placing by Teather and Greenwood\n 2.5m of new Ordinary Shares at 124 pence per share\n\n Highlights\n\n• EpiStem Holdings Plc Admission to AIM 4th April 2007\n\n• 2.5 million shares successfully placed at 124 pence per share raising\n £2.6 million net of expenses\n\n• EpiStem is a biotechnology company commercialising adult stem cells in\n the areas of oncology and gastrointestinal diseases\n\n• Money will be used to:\n\no enable the partnering of novel therapeutic compounds\n\no widen the diagnostic platform of the existing cash-flow positive fee\n for service business\n\no general corporate services.\n\n\n\n• Institutional investors include:\n\no Calculus\n\no Yorkshire Fund Managers\n\no Rensburg Sheppards\n\no Zeus Capital\n\no New Star\n\no Octopus\n\n\n\nCommenting on the completion of the placing, David Evans, Chairman of EpiStem\nsaid:\n\n\n\n'We are delighted at the positive response that we have had from both our\nexisting investors and new institutions in supporting the development plans of\nthe Company. Alongside our existing list of investors including, Calculus,\nYorkshire Fund Managers, Rensburg Sheppards and Jon Moulton, we welcome as new\nshareholders established institutional investors such as New Star and Octopus.\n\n\n\nThe money raised will allow us to advance our therapeutic candidates leading to\nlicensing partnerships. We believe candidate therapeutics will enable us to\nregulate and repair tissue renewal processes providing a new development\napproach for oncology based diseases. Epithelial cancers account for over 80% of\nadult cancers. Our integrated discovery and preclinical platform will enable\npharmaceutical companies to access data and therapeutics based on the company's\nunrivalled research knowledge in stem cells which has been amassed over 30 years\noriginally starting at the Paterson Institute at Christie's Hospital,\nManchester, UK.'\n\n\n\nCommenting on his new role as CEO, Matthew Walls said:\n\n\n\nThe Company has been able to build a profitable and cash generative service\nsupport business alongside an innovative discovery program based on its core\ntechnology. An AIM quotation gives us the profile to expand our service support\nbusiness as well as become a ...