Inspiration Healthcare Group PLC Potential IPO of NeuroproteXeon Limited (5742Q)
07 June 2018 - 4:00PM
UK Regulatory
TIDMIHC
RNS Number : 5742Q
Inspiration Healthcare Group PLC
07 June 2018
Inspiration Healthcare Group plc
("Inspiration Healthcare" or the "Company")
Statement regarding potential IPO of NeuroproteXeon Limited
Inspiration Healthcare Group plc (AIM: IHC), the global medical
device company, notes this morning's press release issued by
NeuroproteXeon Limited ("NPXe"), a company in which Inspiration
Healthcare holds 10% of the current issued share capital, in which
NPXe confirms that it is seeking to complete an IPO on AIM in the
second half of 2018.
In its press release, NPXe confirms that the net proceeds of the
proposed capital raise will allow it to complete a Phase III trial
for XENEX(TM), in conjunction with targeted temperature management,
to improve survival and functional capabilities of patients with
Post-Cardiac Arrest Syndrome ("PCAS"). The first patient is
expected to be treated this summer.
NPXe also confirmed that, subject to prevailing market
conditions and investor demand, it is seeking a new money valuation
significantly in excess of the $59 million achieved in its last
round of financing, which completed in 2017. Since that date, and
as previously announced, NPXe has entered into a licensing
agreement with Linde AG (LIN.DE). Together with NPXe's existing
agreement with Mallinckrodt LLC (NYSE:MNK) the combined agreements
will provide it with up to GBP44.6 million in milestone payments.
Of this amount, approximately GBP12.5 million has either already
been earned or is anticipated in relation to the commencement of
the XENEX(TM) Phase III study.
Shareholders should be aware that there is no guarantee that the
proposed IPO of NPXe will proceed and the Company will make a
further announcement in due course.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
Inspiration Healthcare Tel: 01455 840555
Group plc
Neil Campbell, Chief
Executive Officer
Mike Briant, Chief Financial
Officer
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Nominated Adviser & Tel: 0207 397 8900
Broker
Cenkos Securities plc
Mark Connelly
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Cadogan PR Tel: 07771 713608
Alex Walters
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About Inspiration Healthcare
Inspiration Healthcare (AIM: IHC) is a global supplier of
medical technology for critical care, operating theatre and other
medical applications. The Company provides high quality innovative
products to patients and caregivers around the world that help to
improve patient outcomes and efficiencies of healthcare
organisations with patient focused customer service and technical
support.
The Company's own brand of critical care solutions span
non-invasive respiratory management, thermoregulation and
diagnostics, and patient warming for newborns through to adults in
intensive care and the operating theatre, whilst the distribution
business supplies solutions to support specialised surgical
procedures and infusion therapies.
Present in over 50 countries worldwide, Inspiration Healthcare's
success has been built on continuous innovation, excellent customer
service and an inherent commitment to improving the quality of life
of patients, working in close collaboration with key opinion
leaders and stakeholders in the clinical and medical community
across the globe.
Further information on Inspiration Healthcare can be seen at
www.inspiration-healthcare.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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