Pinsent Masons advises Retroscreen on £25.5 million fund raising

14 Jun 2013 | 04:47 pm | 1 min. read

International law firm Pinsent Masons has advised antiviral anti-viral clinical trial specialist, Retroscreen, on its conditional placing raising a total of £25.5 million.

The firm, lead by corporate partner Russell Booker and associate Mark Stephens advised the AIM-listed company which is expected to use the funds to build a new clinical division.

Retroscreen is a virology healthcare business which provides clinical and pre-clinical analytical services for flu and cold antiviral products to global pharmaceutical and biotechnology organisations.

Partner Russell Booker said: "We are very pleased to have strengthened our relationship with Retroscreen and work with them again to raise funds for a number of high profile projects. The company has experienced significant growth since listing on AIM and it is testament to our expertise that we have been instructed to guide the team through some significant milestones."

Retroscreen turned to Pinsent Masons last year to advise on its listing on the London Stock Exchange (LSE) AIM market raising £15 million. Since listing on AIM the company has focused on developing its services opening a new Flucamp screening centre and viral study programme. In 2012, Retroscreen reported a 237 per cent revenue growth up to £14.4m.

Retroscreen chief executive, Kym Denny, said: "We are delighted to have successfully raised these funds through both existing and new shareholders. We thank our existing shareholders for their continued support and encouragement, and we welcome our new shareholders to the share register. The board looks forward to investing the proceeds of the placing in building the AD-VCM and Discovery Division. It is a very exciting time at Retroscreen and lots to achieve."

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