Orrick Advises on Three UK Capital Markets Deals in First Quarter of 2016


Orrick’s London Corporate team, led by Hilary Winter, recently advised on three capital markets deals involving companies listed on the London Stock Exchange’s Alternative Investment Market (AIM).

Cerillion – IPO

We represented Cerillion plc in its initial public offering on AIM. Cerillion is a leading provider of billing, charging and customer relationship management (CRM) software and has a 16 year track record in providing comprehensive billing and customer management solutions, predominantly to the telecommunications market but also in other sectors such as financial services and utilities. Its solutions are now used in more than 75 customer installations across 40 countries.
The Orrick team advising Cerillion was led by Hilary Winter and included, amongst others, Katie Cotton, Katrina Murphy, David Griffiths, Ed Denny (Tax) and Nell Scott (US Securities).

RedX Pharma - Placement

We advised Cantor Fitzgerald and WG Partners as joint bookrunners and brokers in relation to RedX Pharma’s share placement raising a total of £10 million. RedX is a drug development company focused on improving the characteristics of drugs to treat cancer and infectious disease. The proceeds of the placement will be used to progress its pipeline and further develop its assets in immuno-oncology, infection and immunology. 
This is the second transaction involving RedX Pharma on which our London Corporate team has advised. We previously represented Shore Capital as nominated adviser and broker to RedX Pharma in its initial public offering on AIM last year. 
The Orrick team advising the joint bookrunners and brokers was led by Hilary Winter and included Katie Cotton, David Griffiths and Nell Scott (US Securities). 

Amryt Pharma – Reverse Takeover

We acted for Shore Capital, Stifel and The Davy Group, the investment banking syndicate advising on the reverse takeover of Amryt Pharmaceuticals by cash shell Fastnet Equity plc. The transaction, financed by the issuance of shares, closed on April 19, 2016. As part of the transaction, Fastnet also raised £10 million via a share placement and changed its name to Amryt Pharma plc.
Amryt is an orphan drug development company that also owns German pharmaceutical company Birken AG (Birken) and Swiss biopharmaceutical company SomPharmaceuticals (Som). Birken has developed a recently approved drug for partial thickness wounds and a promising potential orphan drug candidate to treat epidermolysis bullosa, a rare genetic disease. The group is also developing promising drug candidates to treat acromegaly and Cushing’s disease. 
The Orrick team advising the investment banking syndicate was led by Hilary Winter and included Katie Cotton, David Griffiths and Nell Scott (US Securities).