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Tiziana Life Sciences to demerge and list StemPrintER unit
Posted on Friday, 22 May 2020 12:18
Nasdaq-listed clinical stage biotechnology firm Tiziana Life Sciences has unveiled plans to demerge and float its StemPrintER division.
The unit to be separated out comprises the StemPrintER and Spare genomics-based personalised medicine businesses.
Tiziana also said it will carry out a capital reduction in order to facilitate the move.
Following the demerger and initial public offering (IPO), Tiziana believes the new company will be able to secure separate financial resources, while its separation from its parent’s biotechnology and pharmaceutical assets will enable it to concentrate on the personalised medicine segment.
In addition, shareholders would be able to capitalise on Tiziana’s portfolio of medicines, as well as the standalone value of StemPrintER.
The vendor’s board is in the preliminary stages of preparation for the split out, although it cautioned that there is no guarantee of the move going ahead.
Tiziana has taken the decision to demerge and list StemPrintER following a trial of the business’ efficacy in disease recurrence in breast cancer patients, which showed its viability as a standalone company.
Zephyr, the M&A database published by Bureau van Dijk, shows that the largest IPO on record by a provider of research and development services in the physical, engineering and life sciences sector closed in March 2002.
That deal saw Swiss ophthalmic goods maker Alcon secure USD 2.52 billion through the flotation of a 25.0 per cent stake on the New York Stock Exchange.
The second-largest IPO on record in the sector closed earlier this year, when US contract pharmaceutical research and development services provider PPD went public on Nasdaq and raised USD 1.62 billion in the process.
Other firms in the industry to have floated over the years include Quintiles Transnational Holdings, Celltrion Healthcare and Catalent.
© Zephus Ltd