Biopharmaceutical company TopoTarget seeks CSE listing  

2005.06.03
TopoTarget, a Danish biopharmaceutical company, has announced an IPO on Copenhagen Stock Exchange from 6 to 9 June

TopoTarget, a Danish biopharmaceutical company, has announced an IPO on Copenhagen Stock Exchange from 6 to 9 June. TopoTarget is expected to offer between 8 and 10 million shares. Hans-Ole Jochumsen, managing director of Copenhagen Stock Exchange estimates that the flotation will bring the company between DKK 500 mn (USD 85 mn) and DKK 1 bn (USD 170 mn).

The money from the IPO will be used to continue the development of several drug candidates, for authority approvals and to build an European sales organisation so that it will be ready when TopoTarget's first product is launched, probably by the end of 2006. In total, the company has eight drugs under development, all for the treatment of cancer. The news is reported by professional journal Ingeniøren (The Engineer) and on BiotechDenmark's website.

TopoTarget was established in 2000 and has grown both organically and through acquisitions. In 2002, the company acquired the UK cell cycle company Profilix, and in 2005 the German company G2M Cancer Drugs. TopoTarget is headquartered in Copenhagen and has subsidiaries in Oxford, UK, and Frankfurt, Germany.

Link > TopoTarget 

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