Keith Spedding, corporate partner at Shakespeare Martineau, advised on the deal.
Acquisition company Levrett is hopeful that the innovative deal will further an important field of drug discovery and development.
Cambridge-based Nuformix is involved in a cutting-edge field of pharmaceutical research and development; pioneering the use of cocrystal technology to unlock the therapeutic potential of approved small molecule drugs.
The funds raised by the deal will be reinvested to help further the company’s discovery and development activities and leverage its intellectual property assets.
Advisers at Shakespeare Martineau have supported
Having worked on the original IPO of Levrett, Shakespeare Martineau advised on all aspects of the reverse takeover and placing, as well as the relisting on the Standard List and the London Stock Exchange.
“Being able to help bring two companies together to better the outlook of pharmaceutical development has been a real pleasure.
“The development of drugs through cocrystallisation has significant benefits compared to more traditional methods of drug development.
Pascal Hughes, CEO of Levrett plc, said: “We believe the Nuformix business has the potential to generate significant value in the therapeutic market as well as improve safety, treatment efficacy and reduce costs.
“Making such advancements, when compared to traditional biotech models, is an extremely rewarding prospect.
“The support from Keith and his team at Shakespeare Martineau, who have provided the support required to see the transaction through to fruition, has been second to none.”
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