Diaceutics, the diagnostics data analytics and implementation services company, has started trading on London's AIM market today with a market capitalisation of £52.9m.
The Northern Ireland-based company raised £17m – before expenses – through a placing of 22,368,427 new ordinary shares on London's AIM today.
A further 4,934,205 existing ordinary shares were also placed on behalf of existing shareholders.
The company, which was founded by Entrepreneur of the Year finalist Peter Keeling, has offices in Belfast and Dundalk.
It helps pharmaceutical companies reach more patients that need to be on better, targeted and potentially life-saving drugs.
Peter Keeling, CEO of Diaceutics, said the move to AIM and the additional funding will allow the company to continue its growth trajectory by developing its product and services offering which is focused on better testing and better treatment in the global pharmaceutical industry.
"The name Diaceutics reflects our activities at the intersection between diagnostics and pharmaceuticals, as does the ticker we chose, DXRX which uses DX, the industry short hand for a diagnostic and RX, the one for a prescription drug," Mr Keeling said.