ErgoMed First Day Of Dealings On AIM
7/15/2014 9:04:24 AM
Fast growing, profitable UK-based drug development services company raises £11 million
Guildford, UK – 15th July 2014: Ergomed plc (the “Company”), a profitable UK-based company, dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs, is pleased to announce its flotation today on the London AIM stock market. This follows a successful placing led by Oriel Securities Limited (“Oriel”) and supported by Equity Development, raising £11 million from new investors.
Shares in the Company will begin trading at 08:00 today, 15th July 2014 under the ticker symbol “ERGO”, and the ISIN number GB00BN7ZCY67.
Dr. Miroslav Reljanovic, Chief Executive Officer of Ergomed plc, commented: “Ergomed’s fundraising and Admission to AIM is a very important landmark for the company as we look to become one of the leading global providers for rare disease/orphan drug development services, post marketing services and to expand our portfolio of co-development partnerships.
"We look forward to expanding and accelerating our core services business and creating value from our co-development business. We would like to welcome our new investors and look forward to updating them on our progress as we continue to grow the company.”
• Number of Ordinary Shares in issue at Admission: 28,750,000
• Number of New Ordinary Shares issued by the Company pursuant to the Fundraising: 6,875,000
• Issue price per Ordinary Share: 160p
• Gross Proceeds of the Fundraising: £11 million
• Estimated net proceeds of the Fundraising: £9.7 million
• Consideration for the Acquisition: £6 million in cash and £3 million in ordinary shares (1,875,000 New Ordinary Shares at the issue price)
For further information, please contact:
Mary Clark, Supriya Mathur and Hollie Vile
Tel: + 44 203 440 5654
NOMAD/Broker to the Company
Juliet Thompson, Jonathan Senior
Tel: +44 207 710 7600
Founded in 1997, Ergomed Plc is a profitable UK-based company, providing drug development services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 40 countries.
Ergomed provides clinical development, trial management and pharmacovigilance services to over 60 clients ranging from top 10 pharmaceutical companies to small and mid-sized drug development companies. Ergomed successfully manages clinical development from Phase I through to late phase programmes.
Ergomed has a wide therapeutic focus, with a particular expertise in oncology, neurology and immunology and the development of orphan drugs. Ergomed believes its approach to clinical trials is differentiated from that of other providers by its innovative Study Site Management model and the use of Study Physician Teams, resulting in a close relationship between Ergomed and the physicians involved in clinical trials.
As well as providing high quality clinical development services, Ergomed is building a portfolio of co-development partnerships with pharma and biotech companies which share the risks and rewards of drug development. Ergomed leverages its expertise and services in return for carried interest in the drugs under development. For further information, visit: http://ergomedgroup.com
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