Cambrio, New UK Drugmaker Set For L25M London Float

Cambrio Group plc, a new UK-based pharmaceutical company, will be floated on the London Stock Exchange in the near future, with the aim of bringing in L25 million ($37.8 million). Cambrio, the brain-child of former Chiroscience chief executive Nowell Stebbing, is a highly strategic holding company poised to make targeted acquisitions and alliances; heads of agreement on the latest, Penn Pharmaceuticals, have just been signed.

Penn has just launched Paradote, a protective form of the widely-used analgesic paracetamol. According to Cambrio, Penn will now benefit from a corporate plan which has been carefully honed and geared to provide expertise at every level from laboratory through registration and marketing.

Dr Stebbing is confident that this dedicated approach will bring out the full potential of every acquisition made by Cambrio, and ensure that promising new drugs are expertly fast-tracked to market and commercialized sensitively. A well-endowed parallel program will review the vast cornucopia of existing and often overlooked drugs, to assess potential for alternative therapeutic applications, he says.