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news.London, UK-based cancer drug developer Antisoma plc has revealed plans to increase its US presence by listing its shares on the US Nasdaq index.
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As an interim step, the company will establish a Level I program of American depositary receipts (ADRs) to enable dollar-denominated trading of its ordinary shares prior to the listing.
“We already have a significant number of US shareholders,” commented Glyn Edwards, CEO of Antisoma. “Listing in the US will increase our exposure to the US capital markets, a step that we believe will greatly enhance our long-term growth prospects and our ability to exploit new opportunities for development.”
Antisoma is a biopharmaceutical company that develops novel products for the treatment of cancer. The company acquires promising new product candidates from academic or cancer research institutions and focuses resources largely on the preclinical and clinical development of these drug candidates.
In 2002, Antisoma formed a broad strategic alliance with Roche to develop and commercialize products from Antisoma’s pipeline.