Capital Raise Demonstrates Confidence in UK Life Sciences Sector

May 10, 2019
Pharmaceutical Technology Editors

Shakespeare Martineau, a law firm, announced that advisers from the firm have assisted Bermele with a capital-raising move worth £1 million (US $1.3 million).

In a May 3, 2019 press release, Shakespeare Martineau, a law firm, announced that advisers from the firm have assisted Bermele with a capital-raising move worth £1 million (US $1.3 million).

Bermele is a special purpose acquisition vehicle that was formed to acquire commercial technologies within the life sciences, pharmaceutical, and biotechnology sectors. After the capital raise it has become a cash shell on the Standard List and is now trading on the London Stock Exchange.

“Bermele has shown the faith it has in the UK and international life sciences and biotechnology sectors. As one of the fastest-developing fields of innovation, these areas are an extremely attractive proposition for forward-thinking investors, such as Bermele,” said Keith Spedding, corporate partner at law firm, Shakespeare Martineau, who acted as lead adviser. “Against the uncertainty which pervades all areas of UK business, this finance raising operation is testament to the success of the both the UK and international markets. For smaller companies on the hunt for funding, seeing investors such as Bermele position itself as being open for business, should be a real vote of confidence.”

“We have recognized that the pharmaceutical and biotechnology sectors are driven by a need for more effective new products and technologies to help in the diagnosis, treatment, and prevention of a multitude of illnesses and conditions,” added Toby Hayward, chairman of Bermele. “It’s a fast-paced section of the market, with ground-breaking new developments being made on almost a daily basis. Undergoing this transaction will allow us to engage with, and support, a number of incredibly innovative businesses, aiding them on their growth trajectories.”

Source: Shakespeare Martineau