03/05/2012 The London Stock Exchange welcomes Retroscreen Virology Group plc to AIM
Retroscreen Virology Group plc, a world-leading provider of viral challenge studies and clinical testing technologies for developers of vaccines and drugs, today announces the commencement of dealings of its Ordinary Shares on the AIM Market of the London Stock Exchange.
Retroscreen Virology has pioneered the commercialisation of the Viral Challenge Model (“VCM”) that enables research into viral infection and also enables pharmaceutical companies to accelerate and reduce the cost of bringing antiviral therapeutics and vaccines to market. In the VCM, healthy volunteers are isolated in a specialist facility and are exposed to a characterised respiratory virus and then observed for ten to fifteen days. During this time and through the use of the VCM, they may either be treated with an experimental drug candidate, or may participate in a virus only research programme.
The Company is currently focussed on influenza, common cold and RSV research. As the business develops it intends to expand into adjacent clinical areas, such as asthma. It also intends to leverage Virometrics, harvesting the potential of its research for the discovery and creation of proprietary intellectual property.
The Company will use the gross proceeds of £15 million it has raised from the placing to scale up its existing facilities, expand its Viral Challenge Model into new markets, and use the VCM to develop intellectual property.
Kym Denny, Chief Executive Officer of Retroscreen Virology, commented:
“We are delighted to have successfully completed our fundraising and admission to AIM. The funds raised will enable us to expand our facilities and meet the immediate and growing demand for our services.”
Numis Securities is acting as Broker and Nominated Adviser to the Company.