On 12th February 2016, despite challenging market conditions, Shield Therapeutics raised £32.5 million in an initial public offering (IPO) of shares on the Alternative Investment Market (AIM). Upon admission the Company had a market capitalisation of approximately £162 million at the placing price of 150p.
As part of the preparation for the IPO Shield selected GfK to provide an independent expert view that focused on:
GfK’s report formed part of the Admission Document, which was prepared in accordance with the AIM rules for Companies.
Commenting on GfK’s role in the IPO, Paul Steckler, Vice President Commercial Operations at Shield Therapeutics commented “GfK was able to adapt to our specific needs when undertaking this project. Their expertise in market access and product positioning together with their understanding of the disease area was appreciated. GfK has proven to be a valued partner for Shield during the project and we look forward to working with them on our market access plan going forward”.
Notes for Editors:
About Shield Therapeutics
Shield Therapeutics is a specialty pharmaceutical company focused on the development and commercialisation of secondary care-focused prescription pharmaceuticals. The Company’s lead products are Feraccru and PT20.
Feraccru is a novel and effective oral ferric iron-based prescription pharmaceutical product which received marketing authorisation in the European Union together with Iceland and Norway in February 2016. Initially Feraccru is licensed to treat iron deficiency anaemia (‘‘IDA’’) in patients with IBD. A phased roll-out of commercialisation of Feraccru is expected to commence within the EU during 2016 targeted to treat IBD patients who have failed treatment on Oral Ferrous Products (‘‘OFPs’’) or for whom such treatment is unsuitable. The Directors believe Feraccru has an achievable global peak annual sales opportunity in excess of £500 million.