BLP has advised Canaccord Genuity (joint bookrunner and Nominated Adviser) and Shore Capital Stockbrokers (joint bookrunner) on a £40m secondary placing by AIM-listed pharmaceutical company Vernalis plc, which was announced on Tuesday 26 April 2016.

Vernalis has conditionally raised £40m by way of a placing of 80 million new shares to existing and new institutional investors. Vernalis is a specialty pharmaceutical company with expertise in drug development.

Completion of the fundraising is conditional upon approval of Vernalis’ shareholders at a general meeting to be held on 12 May.

The BLP team was led by Corporate Finance Partner Nick Myatt with assistance from Associate Patrick Lilly and Trainee Solicitor Xian Wei Yeo. Corporate Finance partner Bobby Schrader provided US securities law advice.