ECM - IPOs and secondary financings

Recent experience includes:

Acacia Pharma Group plc

Acted as issuer's counsel for speciality hospital pharmaceuticals company Acacia Pharma in relation to its €190 million IPO on Euronext Brussels. The IPO raised gross proceeds of €40 million.

We also advised Acacia on a $30 million credit facility from Hercules Technology Growth Capital.

Shield Therapeutics plc

Advised Shield Therapeutics plc on its AIM IPO in February 2016. Shield originally announced an intention to float on London's main market in September 2015, but in the two weeks of pre-IPO marketing, the NASDAQ biotech index fell nearly 25%, prompted by Hilary Clinton's calls for pharmaceuticals pricing controls. Shield returned to marketing in January 2016, only to encounter the worst start to a year on record in global financial markets. Nevertheless, the attractiveness of Shield's approved iron deficiency product, Feraccru, and its diversified risk profile through the simultaneous acquisition of sister company Phosphate Therapeutics Limited (and its phosphate binder, PT20), ensured a successful AIM IPO.

Novacyt SA

Advised French Euronext Growth, Paris-listed diagnostics company Novacyt on its dual listing admission to AIM and associated placing with Stifel as broker. The transaction was the first Paris-AIM dual listing. We have since advised Novacyt in relation to various matters including M&A and most recently, the contractual arrangements behind the rollout of its highly successful COVID-19 test. 

Woodford Patient Capital Trust plc

Advised on the set up and launch of Woodford Patient Capital Trust plc, an innovative investment trust offering exposure to early-stage companies with outstanding intellectual property and long-term return opportunities.


Advised BTG in relation to its joint underwritten cash box placing in connection with the acquisition of PneumRx, Inc.

Evgen Pharma plc

Advised Northland Capital on its role as Nomad and broker to Evgen on its IPO.

Rex Bionics

Advised Oriel Securities in relation to a placing and acquisition constituting a reverse takeover for Rex Bionics, provider of hands-free robotic exoskeletons.