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Phytopharm becomes vehicle for IXICO listing

This article was originally published in Scrip

Executive Summary

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.

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