Merrion Pharmacueticals Plc admitted to the IEX
Kernel Capital Investee Company Merrion Pharmaceuticals Plc, was admitted to
the IEX today and commenced unconditional trading. Merrion has been trading
conditionally on the IEX since Thursday 13th December. The Kernel Fund
invested €1.5m in Merrion Pharmaceuticals in 2006.
John Lynch, Chief Operating Officer of Merrion Pharmaceuticals Plc said, “We
are very pleased to have achieved Admission to the IEX today. This is an
important step in the overall development of this company. We look forward to
developing our range of drug products and we will use the majority of the net
proceeds from the IEX placing to fund clinical trials, preclinical testing and other
research and development activities.”
Goodbody Corporate Finance is IEX Adviser and Goodbody Stockbrokers is IEX
broker to Merrion Pharmaceuticals. Commenting on the announcement, Finbarr
Griffin Director Goodbody Corporate Finance said “the Admission today
represents a significant milestone for the Company demonstrating strong
shareholder support in what are difficult markets. The Admission provides a
platform for further growth for the Company whilst also providing greater liquidity
to existing shareholders.”
Dr. Daniel O’ Mahony of Kernel Capital said, “we are delighted with the progress
that Merrion Pharmaceuticals has made in both the technological and clinical
advancement of their platform oral drug delivery technologies and in their
application to new drug product developments for the treatment of various human
diseases.”
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