James Cowper Kreston advises Abzena plc on its recent placing to raise £20 million

James Cowper Kreston, are pleased to announce their involvement in helping AIM listed client, Abzena plc (‘Abzena’), to raise £20 million (net of costs) through a placing of new shares.

James Cowper Kreston acted as reporting accountant on the fundraise with the team being headed by Nick Rogers, Partner and Head of Corporate Finance.

Abzena, which was admitted on to AIM last year, is a life sciences group providing services and technologies enabling the development and manufacture of biopharmaceutical products. Since its admission the business has grown significantly organically and via acquisition in both the UK and US. Abzena intends to use the proceeds from the placing to acquire The Chemistry Research Solutions LLC ("TCRS"), a specialist contract chemistry and bio-conjugation company based near Philadelphia (USA), and to back further research and development work.

Julian Smith, CFO of Abzena commented:

“We were very pleased with the way the James Cowper Kreston corporate finance team pragmatically managed this piece of work, complementing their audit team who were assisting with our Half Year results, announced on the same day. Their tax team also provided advice on the process, the acquisition and ongoing actions. This is a great example of a medium sized firm of accountants providing an integrated service supporting a client under extreme time pressure.”

Nick Rogers, Partner and Head of Corporate Finance at James Cowper Kreston added:

“We are delighted to have advised Abzena on its recent placing and wish them every success with the acquisition of TCRS and their growing US presence. As confidence in the UK economy continues to improve, AIM maintains its strong reputation for helping small and growing businesses raise the capital they require for expansion.”

For more information on our award winning range of corporate finance services, please call Nick Rogers on +44 (0)118 9590261.