Newsroom | The Exchange Welcomes

Today we welcome Cyprotex onto our AIM^TM market. The company is dedicated to the application of pharmarcokinetic - the study of how long a drug remains in the human body and which tissues it reaches - optimisation in drug discovery.

Cyprotex, founded in 1999 is hoping to reduce the development costs in drug discovery by its ability to identify candidate compounds with the characteristics to stay in the human body long enough, without causing harm in the early stages of drug discovery. This they believe will eliminate unproductive effort on candidate drugs that fail before or during clinical trials.

Cyprotex's predictive software simulates the distribution of a drug to human body organs using estimates of the absorption, metabolism and elimination of a drug in the human body.

The money raised on the AIM^TM market will be used to provide working capital, purchase equipment, expand overseas and develop a sales and marketing strategy.

Placing Statistics

Placing price - 29p
Number of ordinary shares in issue following the placing - 90,413,793
Market cap at the placing price - 26.2m
Net proceeds receivable by the company - 5.5m