Proximagen proposes £30m IPO

Drug developer Proximagen, a spin out from King’s College, will join AIM at the end of the month with a £30 million starting price tag.

Founded by Professor Peter Jenner and focusing on neurodegenerative disease, the company plans to pull in up to £12 million from institutions to finance its drug development programmes in Parkinson’s and Alzheimer’s diseases.

AIM-quoted IP2IPO, the university technology IP counter fronted by chess expert David Norwood, holds a pre-placing 46.1 per cent.

KBC Peel Hunt will act as broker and adviser.

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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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University Spinouts