Presided over by AstraZenica and ICI veteran Andy Jones, Phoqus has developed a range of technologies for the oral drug delivery market. In particular it has perfected a range of coatings that facilitate fast dissolving and the release of combination drugs. These coatings also enable pharmaceutical firms to extend the life cycles of their products and to add images to tablets, thereby boosting awareness of their brands.

The cash raised on admission will be used to develop the company’s product range further. ‘With four multi-national pharmaceutical collaborations already in place and the first product launches expected in 2007, Phoqus is ready to commercialise its unique technology,’ states Jones.

Phoqus is expected to command a starting value of around £55 million and has pencilled in 3 November as a likely launch date.