Nordström takes AIM

Swedish entrepreneur Rolf Nordström is poised to float AIM’s first Scandinavian counter, Swedish biotech concern Tri-Pep, to advance an anti-HIV therapy.

Swedish entrepreneur Rolf Nordström is poised to float AIM’s first Scandinavian counter, Swedish biotech concern Tri-Pep, which wants C3 million (£2 million) through Irish broker NCB to advance an anti-HIV therapy.

London-based Nordström, who already chairs fully-listed property developer International Real Estate and speculative mining play Minmet, is chairman and 23.4 per cent owner of Stockholm-listed Tri-Pep. He bought in cheaply after the company’s Phase II trials of anti-HIV drug candidate GPG failed.

Now Tri-Pep’s chief executive Professor Anders Vahlne has identified the active component of GPG, called alphaHGA. He says he believes this will enable a drug from this compound to pass necessary trials.

The shares have tripled in Sweden to the equivalent of 77p since this discovery last October. Recently alphaHGA has passed a test indicating the drug can be taken orally.

Tri-Pep seeks a London listing, ‘primarily to attract international investment institutions’, says Nordström. That should help it negotiate licensing deals with large drug companies Tri-Pep plans to start clinical trials on alphaHGA in Thailand. These could begin before January, supervised by scientific adviser and AIDS expert Professor Bill Powderly.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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