Phytopharm becomes vehicle for IXICO listing
This article was originally published in Scrip
The struggling UK pharmaceutical company Phytopharm is to be subsumed into dementia diagnostics firm IXICO in a reverse takeover worth around £5.6m ($9m). Phytopharm's shares have been in the doldrums since it reported in February that its Cogane drug candidate had failed in a Phase II trial in early-stage Parkinson's disease (scripintelligence.com, 18 February 2013). It will now become a vehicle for the privately held UK firm IXICO to gain a public listing.