Member Article

Acacia Pharma targets £150m IPO

Acacia Pharma, a Cambridge-founded commercially-driven specialty pharma group, has announced its intention to proceed with an initial public offering in an attempt to raise £150m.

The company, which specialises in the discovery, development and commercialisation of new treatments for the supportive care of debilitating conditions arising as a result of cancer or cancer treatment, is hoping to list on the premium listing segment of the Official List and to trading on the Main Market of the London Stock Exchange.

The flotation, planned for in October 2015, would make Acacia the second largest pharma listing in London since 2005, behind Circassia in 2005.

In a statement this morning, the group said it has identified “important and commercially attractive unmet needs in supportive care” and it has developed a pipeline of product candidates to meet those needs.

Acacia Pharma’s four lead product candidates have demonstrated clinical proof of concept in Phase 2 studies and the most advanced of these, APD421, is currently being evaluated in a number of Phase 3 studies.

The Group has retained full rights to commercialise each of its product candidates in key territories. The company’s directors believe that Acacia’s product candidates have significant revenue potential.

Commenting on today’s announcement, Dr Julian Gilbert, CEO and founder of Acacia Pharma said: “Since Acacia Pharma’s foundation in 2007, we have advanced the development of supportive care therapies for patients undergoing surgery, with cancer or having cancer treatment targeting commercially attractive unmet medical needs.

“Today, Acacia Pharma has a strong pipeline of four product candidates and a clear plan to market them through our own US sales organisation.

“We are focused on improving the lives of patients and creating long-term value for our shareholders. I am excited by the prospect of the growth that can be supported by the planned IPO and delivering a sustainable, commercially driven specialty pharmaceutical business.”

This was posted in Bdaily's Members' News section by Ellen Forster .