Circassia Plans $285 Million London IPO for Allergy Vaccines
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Circassia Holdings Ltd., a U.K. biotechnology company developing allergy vaccines, plans to raise about 175 million pounds ($285 million) in an initial public offering on the London Stock Exchange.
Circassia will use the money to pay for late-stage tests on vaccines for ragweed, grass and house dust mite allergies, and to build a sales force, said Steven Harris, chief executive officer of the Oxford, England-based company. Its Cat-SPIRE vaccine for cat allergies is undergoing final-stage tests in people and the company expects results in 2016.