On 2 March 2018, GJE client Acacia Pharma Group plc announced the successful pricing of its Initial Global Offering at EUR 3.60 per share raising EUR 40 million. Based on the offer price, the total market capitalisation of Acacia Pharma at the commencement of conditional dealings on Monday 5 March was approximately €190 million. Acacia Pharma’s listing is the largest on Euronext since 2015 and is the first IPO of a British-based biotech company in 2018.
Acacia Pharma is a UK-based, commercially-driven hospital pharmaceutical group focused on the development and commercialisation of new nausea and vomiting treatments for surgical and cancer patients.
The Company has identified important and commercially attractive unmet needs in nausea and vomiting and has discovered two product candidates based on the same active ingredient, amisulpride, to meet those needs. Its first product, treating post-operative nausea and vomiting, is expected to be launched in 2019.
GJE partner, Fiona Stevens has worked with Acacia Pharma since its formation. Since an important aspect of Acacia’s business is based on a drug re-purposing model, developing and implementing an IP strategy to support that business plan was critical. Fiona has become known for her work in this sector and has helped a number of companies raise significant funds and bring their re-purposed drugs to market.
Fiona is quoted as saying, “Working with Acacia Pharma has been a career highlight; it is not often in UK Biotech that you have the opportunity to work with a client from start-up all the way through to an IPO or a successful exit. Acacia Pharma has always understood that IP strategy would be a huge part of the company’s commercial success and that has made them a joy to work with.”
See here for more information on Acacia Pharma’s IGO.