Newsroom | The Exchange Welcomes

We were pleased to welcome NeuTec Pharma onto the AIM^TM market last week. The company develops drugs to combat life-threatening infections - particularly those acquired in hospital, such as the superbug MRSA - which are increasingly resistant to conventional antibiotics.

Run by husband and wife team, Professors James Burnie and Ruth Matthews, NeuTec identifies those antibodies produced by patients who recover from disease and then replicates them as 'grabs'. NeuTec's leading products are Mycograb which targets systematic candidiasis - a life threatening yeast infection and Aurograb which targets MRSA - the staphylococcus bacterium that is resistant to almost all known antibiotics. NeuTec is also conducting research programmes targeted at other infections which are currently at earlier stages of development.

NeuTec consider that a quotation on AIM will raise the public profile of the company and its products and improve the ability to negotiate strategic alliances with other pharmaceutical companies.

Placing Statistics

Placing price - 150p
Number of ordinary shares in issue following the placing - 23,625,156
Market cap at placing price - 35.4m
Net proceeds receivable by The company - 10m