Merrion Pharmaceuticals Plc was admitted to the IEX today

Dec 2007
Merrion Pharmaceuticals Plc was admitted to the IEX today and commenced unconditional trading.

John Lynch CEO of Merrion Pharmaceuticals Plc, said, ²we are very pleased to have achieved admission to the IEX today. We look forward to developing our range of drug products and will use the majority of net proceeds from the IEX placing to fund clinical trials and pre-clinical testing and other research and development testing²

Goodbody corporate finance is the IEX advisor and Goodbody Stockbrokers is the IEX broker to Merrion Pharmaceuticals. Commenting on the announcement Finbarr Griffen Director of Corporate Finance said, ²The admission for the company 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 shareholders².

Merrion Pharmaceuticals Plc was founded by Growcorp Group Limited in 2004 following its acquisition from Elan of Intellectual Property. Growcorp built a business plan around the IP and hired the senior management. Growcorp Managing Director Fintan Maher said ²we are delighted with today¢s successful IPO, Merrion Pharmaceuticals Eur 70 Million market capitalisation represents an excellent return on Growcorp Groups original Eur 2 Million investment, we look forward to the continued successful development of the company².

Fintan P. Maher

Managing Director
Growcorp Group Ltd
3015 Citywest, Dublin 24
Ireland
+353 1 466 1000
(f)+353 1 4661002

 
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Merrion Pharmaceuticals Plc was admitted to the IEX today and commenced
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