Circassia, a company developing allergy treatments based on a discovery by scientists at Imperial College in London, plans to raise about 175 million pounds ($285 million) of new funds in a stock market debut to bring its cat allergy vaccine to market.
Allergy drug firm Circassia seeks $285 million in London IPO
Chief executive and co-founder Steve Harris said the proceeds of the flotation in London, one of the biggest ever in the biopharmaceutical sector, would also help the firm's programs in other common allergies such as house dust mites, grass and ragweed.
The company had already received 105 million pounds of funding from investors including Imperial Innovations, which holds just under 20 percent, Goldman Sachs, Invesco Perpetual and Lansdowne Partners, he said.
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