Shield IPO called off
Enlarge image


Shield IPO called off

09.10.2015 - The US pricing controversy is reverberating halfway across the globe. Shield Therapeutics has taken its IPO plans off the table. Market conditions are too volatile, the company says.

UK-based specialty pharma company Shield Therapeutics is no longer pursuing a flotation on London Stock Exchange. Shield was scheduled to price the listing this week, but felt the market was not stable enough to go through with the IPO. “The response we have received from investors on both our business and our products has been very positive,” said Carl Sterritt, CEO of Shield Therapeutics. “But this recent dramatic increase in volatility, which has led to significantly negative market conditions for the biotech and pharma sector, currently does not allow us to launch the IPO and achieve a smooth transition to the public markets.”

In large part, the market’s volatility can be traced back to recent pricing discussions, which were triggered when Turing Pharmaceuticals bought the rights to Daraprim and immediately hiked the price up by more than 5,000%. The price increase of the drug often prescribed to AIDS and cancer patients, and the subsequent behaviour of CEO Shkreli caused an uproar in the media, which culminated in a tweet that rocked biotech stocks worldwide. Via Twitter, presidential candidate Hillary Clinton announced plans to "take on [...] price gouging like this in the specialty drug market”, causing biotech stocks to tumble on NASDAQ and elsewhere.

Shield, for one, does not believe it will get an adequate valuation. The company has  decided to continue as a private company.



07.10.2015 T-cell specialist Adaptimmune Therapeutics plc needs more space for its R&D in immuno-oncology. The expanding UK company is building a major facility that will house 200 staff.

Drug DiscoveryGermany

06.10.2015 Evotec has been hired by the US National Cancer Institute (NCI) to provide compound management services to the Chemical Biology Consortium. The goal: the discovery of new cancer treatments.

Drug DevelopmentUKBelgium

01.10.2015 Autoimmune disease specialist Apitope has raised €12m in a Series B financing round and is relocating its UK headquarters to Wales.

Drug DevelopmentFranceEUFinlandSpainItalyAustria

01.10.2015 Paris-based BEAM Alliance, a network of companies working on novel antibiotics founded earlier this year, has released its first position paper.


29.09.2015 Swiss CNS specialist Asceneuron SA has raised CHF30m (€27.5m) in a Series A financing, winning Paris-based Sofinnova Partners as its largest investor.


28.09.2015 US company Aduro Biotech has acquired Dutch monoclonal antibody discovery and development firm BioNovion for €29m plus milestones.


24.09.2015 Nutrition company Nestlé is teaming up with biopharmaceutical company AC Immune SA to develop a Tau diagnostic assay for early Alzheimer’s.


22.09.2015 Bayer has taken another step in its restructuring and development as a life sciences company after splitting from all its chemical divisions.


18.09.2015 AstraZeneca has partnered up with the US Department of Health in order to accelerate the development of new antibiotics. The goal: to be prepared for multi-resistant bugs – and for bioterrorism.

© 2007-2015 BIOCOM


All Events

Current issue

All issues

Product of the week


Stock list

All quotes


  • ZELTIA (E)4.12 EUR22.99%
  • WILEX (D)2.20 EUR10.00%
  • DEINOVE (F)6.85 EUR7.54%


  • IMMUPHARMA (UK)28.50 GBP-12.98%
  • BAVARIAN NORDIC (D)35.60 EUR-8.48%


  • THROMBOGENICS (B)4.08 EUR43.7%
  • OREXO (S)65.25 SEK40.9%
  • ZEALAND PHARMA (DK)155.00 DKK26.0%


  • THERAMETRICS (CH)0.04 CHF-33.3%
  • IMMUPHARMA (UK)28.50 GBP-30.1%


  • KARO BIO (S)43.10 SEK5221.0%
  • CHRONTECH PHARMA (S)0.34 SEK325.0%
  • GALAPAGOS (B)38.85 EUR237.5%


  • NEOVACS (F)0.72 EUR-76.7%
  • BIOTEST (D)19.00 EUR-74.8%
  • EVOCUTIS (UK)0.16 GBP-70.9%

No liability assumed, Date: 09.10.2015