Horizon Discovery Group plc raises £68.6 million


Horizon Discovery Group plc, the revenue generating life science company supplying research tools to organisations engaged in genomics research and the development of personalised medicines, is to be admitted to AIM with a market capitalisation of £120.5 million.

The placing, conducted by Panmure Gordon (UK) Limited, has raised £68.6 million from institutional investors comprising £40 million for the Company before expenses and the sale of £28.6 million of Sale Shares, at a price of 180p per share.

Shares in Horizon are expected to start trading on Thursday 27th March, under the ticker symbol “HZD”.

Dr Darrin M Disley, Chief Executive Officer of Horizon Discovery Group plc, commented: “Horizon’s aim is to become a global market-leader in the provision of Life Science research tools that enable the elucidation of the genetic basis of disease and the development of personalised medicines that deliver better outcomes for patients. The Company builds upon a strong commercial performance since inception and the listing of our shares is expected to unlock and deliver significant value to all shareholders moving forward.

“We are very excited by the enthusiasm shown by over 60 incoming investors and the significant oversubscription for the placing at the top of our target valuation range. We believe this demonstrates a strong understanding of the value of our technology platform and support of its flexible deployment via a powerful business model that combines the sale of differentiated products and services that drive revenue growth and leveraged R&D programs generating future milestones and product royalties.

“We are looking forward to joining the AIM market and we wish to thank our investors for their continued and fresh support.”

Admission Statistics

  • Placing Price per Placing Share: 180 pence
  • Number of Existing Ordinary Shares: 44,704,662
  • Number of New Ordinary Shares to be issued by the Company pursuant to the Placing: 22,222,222
  • Number of Sale Shares being sold by the Selling Shareholders: 15,900,784
  • Total number of Placing Shares: 38,123,006
  • Number of Ordinary Shares in issue at Admission: 66,926,884
  • Percentage of Enlarged Share Capital represented by New Ordinary Shares: 33.2%
  • Gross proceeds of the Placing receivable by the Company: £40 million
  • Estimated net proceeds of the Placing receivable by the Company:  £37.8 million
  • Estimated market capitalisation of the Company at the Placing Price at Admission: £120.5 million

The Business

  • Horizon Discovery Group is a revenue generating business, centred around the proprietary GENESISTM gene editing and X MANTM cell line platforms
  • These platforms enable the understanding of the genetic basis of disease, the manipulation of genomes and the creation of genetically-defined human cell lines or “patients in a test tube”
  • This technology is becoming widely used in genomics research and the development of personalised medicines targeted to specific genetic drivers of diseases like cancer
  • Based in Cambridge (UK) Horizon operates through three commercial units: contract research services, cell line and reagent products and leveraged research and development
  • Blue chip customer base including AstraZeneca, Bayer, Boehringer Ingelheim, Genentech, Jannsen Pharmaceuticals, Merck & Co., Novartis Institutes of Biomedical Research and Takeda, with 353 unique customers in 2013
  •  £6.6 million revenues generated in 2013, up > 70% on 2012 (126% CAGR from 2007 to 2013)
  • Leveraged research and development potential future milestones payments currently totalling approximately £120 million plus royalties on tiered product sales

Use of Proceeds

  • Increase awareness of the Company’s services, products and leveraged R&D programmes in their target markets;
  • Expand the sales and distribution channels for the Company’s services, products and leveraged R&D programmes;
  • Expand the number of cell line and reagent products available for sale via increased product development and the in-license of new product ranges from third parties;
  • Increase the pipeline of leveraged R&D opportunities delivering downstream milestone and product royalties;
  • Expand the intellectual property portfolio, via licence or selective acquisition; and
  • Acquire additional sales channels and other capabilities that deliver an expanded commercial offering and strategic geographical footprint


 See also The Telegraph: Cambridge University makes millions from biotech float


For further information please contact:

Consilium Strategic Communications
Amber Bielecka / Mary-Jane Elliott / Jessica Hodgson / Matthew Neal
+44 207 920 2352

For trade and regional media enquiries for Horizon:
Zyme Communications
Katie Odgaard
+44 (0)7787 502 947

Panmure Gordon (UK) Limited
As Nominated Adviser and Broker

Corporate Finance: Freddy Crossley / Grishma Patel / Duncan Monteith / Fred Walsh

Broking:Tom Salvesen/ Adam Pollock
Tel: +44 20 7886 2500



Horizon Discovery Group plc, a UK headquartered global life science company, is a world leader in gene editing and gene modulation.

Horizon Discovery