Simmons & Simmons has advised on the dual listing on AIM of Novacyt, an international diagnostics company whose shares are already listed on the Euronext Growth Market, Paris.

The Simmons & Simmons team, led by partner Charles Mayo, advised the nominated adviser and joint broker Stifel Nicolaus Europe Limited  and joint broker WG Partners on the admission of Novacyt to AIM through placings of shares with new UK institutional investors and new and current French institutional investors to raise EU10m  in total.

This is the latest in a series of transactions where Simmons & Simmons has advised on life sciences sector flotations, having advised Stifel Nicolaus Europe Limited on the IPO of Oxford BioDynamics, Cenkos on the IPO of Creo Medical and JP Morgan and others on the Circassia IPO. The team has also advised REX Bionics plc, Venture Life plc and NetScientific plc on their IPOs and has advised on further fundraisings involving those companies. Recently, the team advised the shareholders of Intelligent Ultrasound Limited, a University of Oxford spin-out company that develops image analysis software for ultrasound, on the disposal of the company to MedaPhor Group plc.

Commenting on the transaction, Charles Mayo, said: "We are very pleased to have supported Stifel and WG Partners on the UK, French and US Securities legal aspects of the dual listing of the fast growing life sciences company, Novacyt on AIM and Euronext Growth Paris. The dual listing and fungibility across both markets enables Novacyt readily to access investors through both London and Paris".

The Simmons & Simmons team was led by Charles Mayo, assisted by Tim Wass, Haya Aftab, Jim McInerney (US Securities) and partner Richard Binns (IP) in the UK and partner Simonetta Giordano, Nicolas Fournier and Emilien Bernard-Alzias  in France.