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Evolutec Group has bought Nanoco Technologies, the Manchester-based manufacturer of fluorescent nano-crystals, in a reverse takeover that creates a combined group worth £32m.
Evolutec is planning to raise £7.5m in a flotation on Aim to fund the development of new drugs.
Evolutec has raised a further £0.7m to fund the expansion of its Oxford-based biotechnology business, and hopes to float on Aim next year.
Evolutec is planning to raise £5m to fund the expansion of its Oxford-based biotechnology business, which will involve the development of new allergy treatments derived from the saliva of ticks.