The Development Bank of Wales, which is the existing lead investor in BiVictrix Therapeutics, will make an additional £500,000 share purchase and will remain the largest shareholder of BiVictrix following the listing. BiVictriX is proposing to raise £7.5m by way of placing and subscription of new ordinary shares as part of its IPO.
Angelina Drljaca-Chandler and Catherine Golledge, from Capital Law’s corporate team, advised the Development Bank of Wales on the transaction. Angelina is an expert in capital markets, with extensive experience advising on IPOs, secondary fundraisings and takeovers, having spent over a decade working at a major international law firm in the City.
BiVictriX is working to deliver a broad pipeline of first-in-class therapeutics (named Bi-Cygni®) that would enable potentially higher dosing and more aggressive tumour eradication in patients, without causing harmful side effects. Its lead programme is focused on treating Acute Myeloid Leukaemia – one of the most aggressive forms of blood cancer.
Mike Bakewell, Deputy Fund Manager at the Development Bank of Wales said:
The advice and guidance provided by Angelina Drljaca-Chandler and Catherine Golledge of Capital Law to DBW was first-class, reflecting their deep knowledge and experience of capital market transactions.
Angelina Drljaca-Chandler, partner at Capital Law, said:
BiVictriX is a high-growth company and a future leader in cancer therapeutics. We have really enjoyed working with DBW team on this transaction, which provides an exciting path ahead for both, BiVictrix and its investors.
You can read more about the deal here.