ULive stops plans for AIM flotation

1 July 2007

UK-based medical technology firm ULive, which has links with the University of Liverpool, has halted its plans to float on London's Alternative Investments Market due to a lack of investor demand. The firm, which estimated a market capitalization of L70.0 million ($139.7 million), had hoped to raise around L20.0 million through the sale of 29% of its shares, in order to provide funding for the commercialization of developmental technologies.

In an article in the UK's Financial Times, observers commented that the lack of interest from investors was probably a result of the lackluster performance of similar technology transfer groups that have recently joined the AIM. Examples include Biofusion, which has experienced price stagnation since listing in 2005, and Imperial Innovations, shares in which have fallen 6% in value.

ULive's non-executive chairman, Iain Ross, told the FT that "the market is pretty skeptical about intellectual property commercialization right now, and is very skeptical on value." The FT article also speculates that the absence of investor demand may be a further indication of continuing doubts regarding the value of small companies listed on the AIM.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK





Today's issue

Company Spotlight