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Durham’s Quantum Pharma to raise £106 million and float on AIM

Durham-based drug manufacturer Quantum Pharma has announced its intention to float on AIM, in a deal that will see the company raise £106.1 million with a market capitalisation of £125 million.

Quantum will be the biggest float on AIM this year in the pharmaceutical and biotechnology sector.

Quantum Pharma is a market leading manufacturer, supplier and service provider to the wholesale and retail pharmacy, hospital, homecare and care home markets.

Headquartered in County Durham, Quantum operates through five business units, employing over 330 people and recording revenues of £53.5 million to the year ending January 2014.

The company has a range of 22,000 Special and Special Obtain products and regularly services 6,500 pharmacies and 240 hospitals across the UK.

Special Obtain is a term used to cover a wide range of licensed niche prescription products, while Specials are prescribed to patients either when the licensed form of a drug does not meet their specific clinical needs, or there is no drug available on the market to treat their condition.

Admission will boost the profile of Quantum across the UK, enabling the business to access the capital markets for further equity funding to support future strategic acquisitions.

Alongside this, the company will use the funding to develop its overall strategy to become the UK’s leading provider of niche pharmaceuticals. The funds will largely be spent in the development and launch of new regulated products across the group, as well as creating a new medication regime adherence service.

Chief executive officer at Quantum Pharma, Andrew Scaife, said: “Our decision to list on AIM makes both strategic and commercial sense as we take Quantum to the next stage of its development.

“We are delighted to see such high levels of institutional demand and we now look forward to working with our new institutional shareholders.

“Having established our position as a market leader in the niche UK pharmaceutical market in which we operate, we feel that by joining AIM, Quantum will be able to capitalise on the fantastic market opportunities that are out there.”

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