Fladgate LLP has advised WideCells Group PLC, the health care services provider to the growing stem cell industry, on its entry to the Main Market of the London Stock Exchange, by way of a Standard listing on the Official List of the UKLA, following a successful £2m placing organised by Vicarage Capital Ltd and Shard Capital Partners. The market capitalisation of WideCells Group on admission was approximately £6m.
With a world-class leadership team in place, the Group plans to promote stem cell treatments by making them accessible and affordable. In particular, the Group is developing CellPlan, a first of its kind insurance plan to provide access to renowned specialists and hospitals for medical treatment utilising stored stem cells.
Corporate partner Paul Airley led the Fladgate team, assisted by commercial partner Eddie Powell and senior corporate associate Jamie Hamilton. Commenting on the listing, Paul said: “Fladgate congratulates the WideCells Group as it achieves this major milestone. We are looking forward to assisting the company further as it continues to develop into a recognisable name in the stem cell services industry.”
Head of corporate, Grant Gordon, added: “With a significant proportion of our clients being fast-growing and entrepreneurial businesses, Fladgate has wide-ranging experience of the Standard listing segment of the Official List. In addition to advising on four Standard listings to date, we have acted for our existing Standard listed clients in reverse takeovers, other M&A matters and financing transactions. What is also encouraging is that this is the third significant transaction on which our capital markets team has advised since Brexit, with others in the pipeline.”
Fladgate’s specialist life-sciences team provides the range of legal services required by clients across the industry spectrum, from biotechnology, pharmaceuticals and medical devices companies to institutions or organisations that are involved in the research, development and sale of medicines, medical devices or nutritional products.