Herpes drug business joins AIM
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Pharmaceuticals products and services business Clinigen Group has begun life on the Alternative Investment Market.
Clinigen Group has raised £50 million from institutional investors and secured a market capitalisation of £135 million on admission to AIM.
UK-headquartered Clinigen is a speciality pharmaceuticals business which also has bases in the US and Japan and has two divisions, services and products.
Within its services division it offers clinical trial supply provisions and global access program services.
Its products part of the business owns and supplies Fascavir, a hospital-only drug which is used in the treatment of cytomegalovirus, part of the herpes family of viruses.
Peter George, CEO of Clinigen, says, 'After a period of sustained international growth, a listing of our shares is key and the next logical step in our development.
'We aim to maintain our strong growth record - based on our unique business model - both organically and through the acquisition of new pharmaceutical products.'
The listing, Clinigen says, will provide it with additional financial flexibility to support its on-going expansion.