UK-based Horizon Discovery, a company backed by the University of Cambridge’s Enterprise Fund, has completed an initial public offering raising £68.6m ($114m) from institutional investors comprising £40m ($66m) for the Company before expenses and the sale of £28.6m ($47.6) of Sale Shares.
Horizon Discovery is a life science company supplying research tools to organisations engaged in genomics research and the development of personalised medicines. They are listed on London’s Aim, formerly the alternative investment market, under ticker symbol HZD.
Shares were sold in the initial public offering for 180p per share ($3). This adds to the $50.2m in funding raised through various funding rounds that saw investment from Cambridge Enterprise, the tech transfer unit of the university which helped spin out Hoirzon from research at the institution.
Dr Darrin M Disley, chief executive of Horizon Discovery, said: “Our listing today and the funds raised will fuel Horizon Discovery’s ambition to become the global leader in the provision of Life Science research tools that enable the understanding of the genetic basis of disease and the development of personalised medicines.
“We very much look forward to accelerating growth across all areas of the business, driving shareholder value through the deployment of our platform via a flexible and leveraged business model and accessing new global markets and supporting our customers.”
Photo: Clare College at the University of Cambridge. Credit: Andrew Dunn/Wikipedia
