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AIM flotation of Physiomics plc
Brief
Oxford-based Physiomics, a systems biology company set up in 2001, is offering novel in silico technology for evaluating drug dosing and efficacy. It has developed proprietary software, called SystemCell™ that simulates the effect a drug will have on a particular type of cell population. Physiomics combines its technology with Bayer Technology Services’ time-based PK-Sim® pharmacokinetic modelling software. This service, with the initial focus in cancer, offers drug researchers an armoury of clinical response prediction, which could eliminate costly false steps in the drug development chain.
With pharmaceutical drug development now costing an average of $800 million and about 80 per cent of drugs failing to make it through clinical trials, independent research believes that even a ten per cent overall improvement in that attrition rate could save the industry $242 million per drug and help to build a systems biology market worth $785 within a few years.
Physiomics had been a PR client of Northbank’s since mid 2004 and, following an announcement of its intention to float on AIM issued in August 2004, Northbank was retained to support Physiomics through its IPO and onwards as a listed company.
Objectives
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To use media relations with UK national financial and investor press, and the biotech business press to drive visibility to help secure interest and commitment during the book building |
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To maintain interest in the after market and work towards establishing an ongoing financial and investor relations programme |
Methods
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Northbank provided financial relations counsel and particularly media relations support against a tight pre-float timetable of approximately one month |
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The PR team worked closely with Physiomics, its board and key investors, and its team of AIM advisers including Nominated Adviser (NOMAD), broker and lawyer to develop key messages to use in publicising the Company’s flotation |
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Northbank drafted the two press releases required, first, to announce the Company’s application to list on AIM and second, to announce the Company’s first day of trading on AIM |
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Northbank ensured all relevant trade and financial media were researched, and key targets identified |
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Due listing protocol for media relations was observed, ie strict adherence to information contained in the application document or prospectus and copy clearance obtained from all the AIM advisers for media announcements and dialogue |
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The IPO PR team liaised with key financial and trade press as each release was issued and dealt with queries and requests |
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Northbank had built up good relations with biotech analysts and these were cemented in the few months prior to the float. As appropriate, Northbank mailed interested analysts the press releases to keep them informed of progress |
Results
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Coverage was achieved in the short lead time to listing, in BioCentury, Scrip, Investor’s Chronicle and even the Sun, Daily Express and Financial Times as well as various online investor magazines |
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Physiomics floated on December 20, 2004,with the FT covering its arrival on AIM
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The Company raised £750,000 and is currently valued at over £5 million |
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Northbank followed up with media relations in the after-market and put together the Company’s first financial calendar and investor relations programme alongside the ongoing trade press outreach |
27 January 2005
To discuss our capability in this area please contact:
Sue Charles, Managing Partner
+44 (0)20 7457 2020
sue.charles[at]collegehill.com
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