Synairgen: Successful £10.5m fundraising and admission to AIM

20 Oct 2004

IP2IPO Group plc (AIM: IPO) ("IP2IPO"), the intellectual property company that commercialises university technology, is pleased to announce that Synairgen plc ("Synairgen"), a drug discovery company focused on identifying and out-licensing pharmaceutical products that address the underlying causes, rather than the symptoms of asthma and Chronic Obstructive Pulmonary Disease, has today published its prospectus for the admission of its ordinary shares to the Alternative Investment Market of the London Stock Exchange. The placing raised £10.5 million, including £10.0 million before expenses for Synairgen, at a placing price of 130p per ordinary share (the "Placing Price"). Synairgen's capitalisation on admission, at the Placing Price, will be £28.2 million. It is expected that dealings in the ordinary shares of Synairgen will commence on 26 October 2004.

IP2IPO will hold a 30.6% equity stake in Synairgen following the placing and admission to AIM.

For more information, view this press release in PDF format (PDF 117 KB opens in a new window)