US

Proximagen: Successful £13.5m fundraising and admission to AIM

31 Mar 2005

IP2IPO Group plc (AIM: IPO), the intellectual property company that commercialises university technology, is pleased to note that today is the first day of trading on AIM of shares in Proximagen Neuroscience plc ("Proximagen"), a spin-out company from King's College London focused on neurodegenerative disease.

Proximagen raised £13.5 million (before expenses) at a placing price of 148p per share (the "Placing Price") and its capitalisation at the placing price was £29.7 million.

Following the placing IP2IPO owns 4,704,000 shares in Proximagen (worth £7.0 million at the placing price), representing 23.5% of Proximagen's enlarged share capital.

For more information, view this press release in PDF format (PDF 54 KB opens in a new window)