Stem cell company to list on LSE
Thorn Medical, a healthcare company that will soon begin trialling stem cell research on humans, plans to list on the London Stock Exchange with a valuation of £340 million.
The move follows a recent surge in investor interest in the biotech sector, with the London-based company planning to float within the next two months, once it receives the go ahead from the UK Listing Authority.
While Thorn Medical will be listed in the UK, it has facilities in the Bahamas as the European Union has strict regulations when it comes to mass stem cell research on humans. A recent change in the laws in the Bahamas has seen millions invested in stem cell facilities on the island.
Thorn Medical Founder Jack Kaye believes that the possibilities stem cell research could offer are endless: “ We can repair tendons, torn ligaments, do spinal chord reconstructions, overhaul immune systems and grow everything from new arms to hearts. In theory, you could live forever.”
A perfect match is required for stem cell treatment in order to ensure the body does not reject donated stem cells, requiring the patient to take anti-rejection drugs for the rest of their life.
The only painless way of harvesting stem cells so they can be stored to ensure a perfect match is from naturally shed teeth. Baby teeth offer the best results as stem cells taken from them are young and healthy, and will not have been affected by age or pollution.
While Thorn Medical has been valued at £340million, Kaye expects it to be worth £700million by the end of the year, adding that he intends to stay in the business rather than sell out when it goes public.
Biotech stocks have rocketed over the last few years as companies such as Thorn Medical have made advances in understanding and treating complex conditions.