Evgen listing to raise £20m
CANCER drug development specialist Evgen Pharma is due to make its Aim debut on Thursday, with a view to raising £20million.
Evgen will use the funds for research
Advised by Westhouse Securities, Evgen focuses on core product Sulforadex - a synthetic version of sulforaphane, an anti-cancer agent found naturally in broccoli and other brassicas.
Evgen, will use the funding for phase one and two studies in breast and prostate cancer, a phase two study in brain haemorrhages and preclinical trials in multiple sclerosis. Evgen Pharma CEO Dr Stephen Franklin said: "A wealth of academic research has identified the anticancer and neuroprotective properties of sulforaphane, a naturally occurring but highly unstable compound.
Our technology unlocks its commercial potential for the first time through the synthesis of a patented, stabilised version that can be delivered as a tablet or a capsule
"Our technology unlocks its commercial potential for the first time through the synthesis of a patented, stabilised version that can be delivered as a tablet or a capsule." Liverpool firm Evgen was founded in 2007 by Franklin - who has over 20 years of commercial experience in life sciences industries - in collaboration with venture capital investors EV Group and Imprimatur Capital.
Its objective was to secure intellectual property rights relating to natural products with healthcare potential.
The business is chaired by Barry Clare, a former Boots board director and managing director of Boots Healthcare International.