Life sciences IPO lined up for London
A new company will test investor appetite for IPOs in London, with plans to raise money to acquire stakes in promising life sciences and biotech firms that have been hit by a slump in values in the sector.
Conviction Life Sciences wants to raise as much as £100mn in the premium segment of the main market of the London stock exchange, which has struggled to attract new companies this year owing to political and economic turmoil.
The plans come after a number of other investment companies have been forced to shelve plans to IPO given reluctance among investors to commit money to new businesses.
Craig said that there were social and economic reasons to believe that life sciences companies developing clinical solutions would be needed more in the future, pointing to the ageing population in many countries.
These firms would also benefit from faster regulatory approvals following progress on such systems since the pandemic, he added.
This story originally appeared on: Financial Times - Author:Daniel Thomas
