Clinigen raises £50m in IPO; Leaver leaves with £40m
This article was originally published in Scrip
Burton-on-Trent, UK-based Clinigen, a company with two pharma service businesses and a nascent product development arm, has raised £50 million to float on AIM, the junior London market, in an IPO valuing the company at £135.4 million. Clinigen sold 30.5 million shares at £1.64 a share. In essence, the money buys out the company's original majority owner and leaves it a bit of money for further product acquisition.