Ireland's Alltracel seeks AIM listing

Alltracel, the Irish biopharmaceutical company, says it intends to listits shares on London's Alternative Investment Market and is looking to raise some 1.5-2.5 million euros ($1.3-$2.1 million), net of expenses. Market capitalization of the firm, at these prices, will be 50-60 million euros and the shares are expected to commence trading at the end of this month.

Founded in 1996 and headquartered in Dublin, Alltracel specializes in the control and manipulation of polysaccharides for drug delivery, as well as cancer and cholesterol treatments. The firm has R&D facilities in Tisnov in the Czech Republic and funds research programs at Trinity College Dublin, UCD and the Academy of Sciences at the University of Prague.

Alltracel's core technology is its Micro-Dispersed Oxidized Cellulose Platform, and, to date, the main focus of the business has been on the wound-care division, though now, it is looking to its drug delivery and tumor treatment businesses.