Drug Floats To Test Market

SCOTTISH drug company is looking to raise between £75m and £100m in what will be one of the biggest flotations in the emerging pharmaceuticals sector in recent years. Pro Strakan and its advisers at Morgan Stanley are thought to be seeking a valuation of more than £250m. The move comes at a time when Renovo, a Manchester firm with a promising wound-healing drug, is seeking to raise £65m in an initial public offering that may value it at between £150m and £200m.

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