22nd Mar 2016 07:00
SalvaRx Group plc
("SalvaRx" or the "Company")
First Day of Dealings on AIM
SalvaRx (formerly known as 3Legs Resources plc), a biotech company focused on therapies that leverage the immune system to fight cancer, is pleased to announce the commencement at 8.00 a.m. today of dealings in its Ordinary Shares on the AIM market of the London Stock Exchange following the reverse takeover of SalvaRx Limited. Northland Capital Partners acts as Nominated Adviser and Broker to the Company, with Peterhouse Corporate Finance acting as Joint Broker. The Company's ticker is "SALV".
Immunotherapy is a fast growing and new therapeutic area within oncology, which is expected to grow to $80 billion worldwide by 2020, and seeks to use a patient's own immune system to fight cancer, either by stimulating the existing immune system or by the administration of man-made immune system proteins.
SalvaRx's strategy is to acquire and invest in a portfolio of companies involved in novel cancer immunotherapies. SalvaRx provides portfolio companies with operational support in addition to capital, either by managing its portfolio companies directly or augmenting an existing team. SalvaRx Limited, which following completion of the reverse takeover is now a wholly-owned subsidiary of SalvaRx, holds a 60.5% interest in iOx Therapeutics Limited ("iOx"). iOx is developing technology that was discovered at the University of Oxford in conjunction with the Ludwig Institute for Cancer Research. Its pipeline of anti-cancer treatments is based stimulants of invariant natural killer T cells.
Ian Walters, CEO of SalvaRx commented:
"I am delighted to see SalvaRx's stock begin trading on AIM. I would like to thank both original and new shareholders for their support. We have clear goals and a strategy in place and with our ownership of iOx, we've already made significant progress. The listing on AIM is another significant part of that strategy and will help to underpin the Company as it looks to build on the iOx investment. Immunotherapy has given thousands of people a better quality of life than that offered by any traditional treatment. By achieving our goals we hope to further transform the lives of cancer sufferers around the world for the better."
The Company's admission document is available at www.salvarx.io
-Ends-
SalvaRx Group plc |
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Richard Armstrong | Tel: +44 (0) 7787 500221 |
Colin Weinberg | Tel: +44 (0) 7836 588504 |
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Northland Capital Partners Limited Nominated Adviser and Broker | Tel: +44 (0) 20 3861 6625 |
Matthew Johnson / Edward Hutton / Stuart Miller (Corporate Finance) |
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John Howes / Abigail Wayne (Corporate Broking) |
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Peterhouse Corporate Finance Limited Joint Broker Lucy Williams / Duncan Vasey | Tel: +44 (0) 20 7469 0932 |
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Media enquiries:
Abchurch Communications Limited |
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Philip Dennis / Jamie Hooper / Alex Shaw | Tel: +44 (0) 20 7398 7712 |
www.abchurch-group.com | |
Britton Financial PR |
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Tim Blackstone | Tel: +44 (0) 20 7398 7712 |
Related Shares:
SALV.L