Biotech high-fliers Abzena want to raise £25m

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07/04/2017

Abzena is hoping to raise another £25m as it continues its bid for world domination.

The Babraham firm, which provides services and technologies to enable the development and manufacture of new therapies, wants to use the cash, which will be raised via a share placement, to expand further its service offering, capacity and capabilities.

A statement from the company said its services are currently provided to a global customer base, including 18 of the top 25 major biopharmaceutical companies over the past three years.

"Since its IPO in July 2014, Abzena has significantly expanded both its service offering and geographic footprint through two acquisitions in the US, substantially increasing its client base and breadth of service offering in the process," it said.

"The group has continued to secure further licence agreements for Abzena Inside technologies which have been incorporated into products being developed by its customers. Currently, a total of 12 Abzena Inside products are in clinical development, compared to five at the time of IPO, and the Group anticipates a further two to three such products entering clinical trials each year.

"The directors believe there is growing structural demand in the market for the group’s services and that it has a significant competitive advantage through being able to offer a wide and expanding range of biology, chemistry and biomanufacturing services. This allows the group to provide its customers with a range of complementary services enabling the translation of drug discovery research projects through to Phase II clinical development."

If the placement is successful, Abzena plans to upgrade and grow its US-based biomanufacturing facilities and capabilities, as well as investing in its existing biology, chemistry and biomanufacturing services in the UK and US, and sinking money into its sales and business development functions.

John Burt, Abzena CEO, said: “Our existing and prospective customers are developing novel but complex biological therapies for a wide range of diseases, from rare genetic childhood disorders to cancer. Our experience and reputation as a biopharma service and technology provider continues to grow and as a result our customers’ demand is currently outstripping our capacity.”


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