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Goodman Derrick advise Bould Opportunities plc on its £21 million acquisition of Cizzle Biotechnology Limited and admission of the enlarged group to Main Market of the London Stock Exchange
Goodman Derrick’s Capital Markets team have advised Bould Opportunities plc on its £21 million acquisition of Cizzle Biotechnology Limited, Bould’s associated £2.2m fundraising and the admission of the enlarged group to trading on the Main Market of the London Stock Exchange. The proposals are conditional upon the approval of Bould’s shareholders at a forthcoming General Meeting.
Cizzle – a biotech spinout of the University of York – was founded in 2006 and has developed a patent protected technology for the early detection of lung cancer through the development of a blood test for the CIZ1B biomarker.
Bould have conditionally raised £2.2million by way of a Placing in order to provide working capital for the Enlarged Group’s strategy.
“I am delighted to have exchanged on the acquisition of Cizzle Biotechnology. I believe that the acquisition presents huge value for Bould Opportunities, with a technology looking to address an urgent clinical need. Lung cancer is incredibly hard to diagnose at an early stage as there are few clinical symptoms. However, I believe that Cizzle Biotechnology can provide a solution to this problem through the blood test it is developing for the early detection of a majority of the different forms of lung cancer
The Goodman Derrick corporate team, led by Dominic Prentis and Richard Pull, have provided insightful and practical legal guidance throughout. Their collaborative mind-set and their dedication to this deal were crucial in getting the acquisition over the line and eventually seeing us listed on the Standard List of the London Stock Exchange”
Allan Syms, Chairman, Bould Opportunities
“We are very pleased to have advised Bould on this transaction in the fast-growing biotech space. The acquisition and listing will allow Cizzle to further develop its important blood test for early diagnosis in lung cancer cases.”
Dominic Prentis, Partner, Goodman Derrick LLP
Keith Spedding, Jennie Davis and Gweni Rees-Evans of Shakespeare Martineau acted for Cizzle. Also advising on the transaction were: IFC Advisory Limited (Financial PR & IR), Allenby Capital Limited (Finance Adviser), Novum Securities Limited (Broker).
The Goodman Derrick team was led by Corporate Partner Dominic Prentis with assistance from:
Richard Pull, Senior Associate, Corporate
Alexandra Bonner, Partner, Employment
Remy Ormesher, Associate, Employment
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