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Media Releases
2004

10 May
2004

£5 Million Flotation Boost For British Biocell

  • Shepherd and Wedderburn advises on Alternative Investment Market IPO
  • Cardiff based British Biocell International valued at over £10 million

Biodiagnostics firm, British Biocell International (BBI), has raised in excess of £5 million, before expenses, from its initial public offering (IPO) on the Alternative Investment Market (AIM).

Law firm Shepherd and Wedderburn managed the legal aspects of the flotation, which gives the company a market valuation in excess of £10 million.

Cardiff-based BBI is one of the world’s leading manufacturers of high quality immunogold and silver reagents used for research and diagnostic applications. The company is the result of a management buy out in 2000.

David Evans, Non Executive Chairman of BBI said:
"The success of the flotation is due to a number of factors. We have been able to build a very experienced and rounded management team which has expertise across the board. Secondly, Gold colloid technology has become the product of choice. And thirdly, we have received exceptional support from our investors and advisers. We brought Shepherd and Wedderburn in because of their expertise and experience in our market and AIM deals. They demonstrated a strong understanding of our business and what we wanted to achieve."

The BBI float is another positive result for Shepherd and Wedderburn’s corporate finance division. The firm already acts for a range of companies with a listing on AIM including IndigoVision, Micap, NMT Group, Water Hall Group, Sigma Technology Group, Vianet Group, Deep Sea Leisure and Palmaris Capital.

Malcolm Gillies, a partner at Shepherd and Wedderburn said:
“British Biocell is one of the UK’s brightest hopes in the promising diagnostics sector and this AIM flotation is a reflection of the company’s potential for growth.

“The flotation demonstrates Shepherd and Wedderburn’s ability to help enable UK companies to develop their funding requirements. The firm has been developing a reputation within this particular field for a number of years and this is a particularly satisfying result.”


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