Gowling WLG advises SP Angel on emerging biotechnology company's admission to AIM

3 minute read
11 August 2021

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A team of tech sector specialists from Gowling WLG has advised SP Angel Corporate Finance LLP, who acted as Nomad and sole broker, on BiVictriX Therapeutics plc's admission to the AIM market of the London Stock Exchange.

BiVictriX is a UK-based Antibody-Drug Conjugate (ADC) discovery and development company which is focused on leveraging clinical experience to develop a class of highly selective, next generation cancer therapeutics which exhibit superior potency, whilst reducing harmful side-effects.

The oversubscribed placing and subscription has raised gross proceeds of £7.5 million through the issue of 37,500,000 new ordinary shares at a placing price of 20 pence.

Corporate partner and co-chair of global tech, Davey Brennan, led the Gowling WLG team supported by legal director Caitlin Cumming. Davey said: "We were delighted to assist SP Angel on this transaction and further demonstrate our breadth and depth of expertise in tech related capital markets work. The transaction represents an exciting opportunity for BiVictriX to enhance its work programmes on breakthroughs for cancer patients and we wish the company every success in the future."

Corporate finance director at SP Angel, David Hignell, added: "We are thrilled to have advised BiVictriX on its admission to trading on AIM and look forward to seeing the company evolve as a listed entity. BiVictriX's Bi-Cygni® technology focuses on an area of unmet medical need and the funds raised in conjunction with the IPO will enable BiVictriX to accelerate the development of its lead work programme BVX001, which has the potential to revolutionise the treatment of some of the most difficult to treat cancers. We are also grateful for the expert advice we received from the Gowling WLG team throughout the transaction and we look forward to collaborating with the firm again on future transactions."

Gowling WLG is recognised for its leading position in the AIM market, acting for AIM companies and advises issuers and the investment banks and brokers that advise them. It brings together experts in tax, corporate, finance, regulatory and dispute resolution to provide a full legal service to its clients.

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