DAC Beachcroft advises Diaceutics plc on £20m share placing

Published 19 junio 2020

DAC Beachcroft’s Equity Capital Markets team has acted for existing client Diaceutics as it raised, in aggregate, £20.5 million (before expenses) by way of a share placing.

The placing saw 14,137,931 new ordinary shares offered at a price of 145p per share to existing and new investors.

Diaceutics is a data analytics and implementation services company for the global pharmaceutical industry. Its products and services are focused on optimising its clients' strategies for the development and launch of precision medicines and specifically, the diagnostic testing required to guide selection of such medicines.

DAC Beachcroft’s team was led by Clive Garston, who was supported by Michelle Jones and Aleks King-Sorrell from the London corporate team.

Clive Garston, Consultant at DAC Beachcroft, said, “Having advised Diaceutics on their IPO last year I am delighted to have been able to assist them  on this very successful share placing. It demonstrates the strength of investor support for their strategy and sets a very good foundation for the firm’s continued growth and support for the healthcare industry. The placement also underlines our experience in this area, and shows that lockdown doesn’t mean that business-as-usual must cease.”

Philip White, Chief Financial Officer of Diaceutics PLC, said, “Our thanks to the DAC Beachcroft team for yet again helping us over the line on this secondary raising. Their experienced navigation of the legal prerequisites meant we were able to raise our funds in record time and maintain focus on our mission towards better testing.

“This funding arrives at exactly the moment when Diaceutics is launching DXRX, its diagnostic network to support a pharmaceutical industry pivoting towards precision medicine, and we are grateful for the support and guidance from across the entire DACB team to allow us to maintain our focus on that goal.”

DAC Beachcroft’s Equity Capital Markets practice is especially well know across the technology, media and telecoms and natural resources sectors. The team regularly advises issuers, financial advisers, NOMADs and brokers. It acts for more than 20 AIM-listed companies, advising its clients and their corporate finance advisers, both domestic and international, on complex transactions such as IPOs, secondary fundraisings, rights issues, reverse takeovers and public takeovers, as well as advising on continuing compliance with relevant legal and regulatory requirements.