The vision of Life Science Leader is to be an essential business tool for life science executives. Our content is designed to not only inform readers of best practices, but motivate them to implement those best practices in their own businesses.
Issue link: https://lifescienceleadermag.epubxp.com/i/161331
Finance & Business Development from a relatively modest £8 million ($12.5 million) (EGI) to a very healthy £50 million ($78.3 million)(Clinigen), providing these companies with crucial funds for further development. The secondary fundraising market also has been buoyant, with more than £2.5 billion ($3.9 billion) and £4.1 billion ($6.4 billion) being raised in 2012 through secondary issues on AIM and the main market, respectively. In addition to access to capital, companies benefit from enhanced status and public profile, the ability to incentivize employees through share-option schemes, a transactional currency in the form of their listed shares, and a profitable exit option for investors (e.g. at Clinigen, the existing shareholders achieved a significant sell-down, receiving aggregate consideration of over £40 million [$62.6 million]). In March 2013, the LSE (London Stock Exchange) launched a new high-growth segment of the main market. The new platform is aimed predominantly at addressing the needs of fast-growing European technology companies with a view to providing such companies with a transitional route to the UKLA's (U.K. Listing Authority) official list. This opens up an exciting new platform for companies in the life sciences arena that are looking for access to capital as a stepping stone to the main market. The public markets are looking more positive for life sci- unify ences companies with strong underlying fundamentals, strong management teams and profits, or a clear pathway to them. Meanwhile, policy initiatives such as the Biomedical Catalyst mean better support is being made available at the other end of the life cycle. Both factors bode well for the future of the sector and R&D.; About the Authors Jodie Dennis is an associate at Charles Russell LLP. Jodie advises a wide variety of clients, including listed PLCs and large, privately owned corporates. As well as providing general company law advice, Jodie advises on a range of transactions, including mergers and acquisitions (including takeovers), equity capital markets (including IPOs and secondary fundraisings), and private equity investments. Mark Howard is a partner at Charles Russell LLP. He advises on primary and secondary listings (on AIM and the main market), public takeovers, private M&A;, VC/PE investments, joint ventures, restructurings, and distressed asset sales. His sector focus includes companies in the life sciences sector. y o u r Drug Development Program with DATATRAK Do you have the Right eClinical Partner to Manage your Complete Drug Development Program? DATATRAK couples the most advanced cloud-based, unifed DATATRAK ONE™ eClinical solution with the expertise of its Clinical and Consulting Services (DCCS) team to provide a comprehensive strategy for all your data needs. > Known costs enable better planning > Leverage outsourcing but maintain control cost > ReallocateR&D; savings back into Visit DATATRAK's storefront on Clinical Leader for the Managing the Complete Drug Development Program case study. datatrak.com t+1-440-443-0082 tmarketing@datatrak.net September 2013 LifeScienceLeader.com 51