DLA Piper has advised Allied Minds on its initial public offering (IPO) and admission to trading on the main market for listed securities of the London Stock Exchange. The offer price has been set at 190 pence per share valuing the company at £398 million.

Allied Minds is a Boston-based innovation company that forms, funds, manages and builds startups based on early-stage technology originating from U.S. universities and federally funded research institutions. The company currently has partnerships with 33 US universities and 26 federal government institutions, including the Departments of Defense and Homeland Security. It considers more than 2,000 pieces of technology a year.

Conditional trading in the shares began at 8am today. Unconditional trading on the main market and admission to the premium listing segment are scheduled for 25 June.

The DLA Piper team was led by International Head of Corporate Charles Severs and comprised Head of EMEA Capital Markets Alex Tamlyn, senior associates Martin Penn and Louise Barber, associate Johannes Poon and trainee Bhav Parekh. Partner Yunus Maka and associate Phebe Hemmings advised on the reorganisation. The firm's Boston team included partner Michael Turner (now General Counsel at Allied Minds), associate Christopher King and attorney Tim Fuhriman.

Charles Severs said: "Allied Minds is a very exciting and innovative company and we are delighted to have advised them on their successful IPO in London. DLA Piper's ability to have local lawyers advising on the ground exactly where our clients our doing business, in this case London and Boston, and working seamlessly together is a clear example of what differentiates us as a firm."