Deal

Lung cancer detection technology acquired in £21 million deal

Published: 23rd April 2021
Area: Corporate & Commercial
Bould Opportunities has acquired Cizzle Biotechnology Limited in a multi-million pound deal, and raised more than £2.2 million, conditional on shareholder approval.   The combined entity will be listed on the Standard list and London Stock Exchange, with the support of Midlands law firm Shakespeare Martineau.

Cizzle Biotechnology, which is a spin-out from the University of York, is focused on patent protected technology for the early detection of lung cancer through the development of a blood test for the CIZ1B biomarker, and has been sold to Bould Opportunities in London for a total consideration of £21 million.

Bould Opportunities, a formerly AIM quoted company, was seeking acquisitions after disposing of its existing trading subsidiaries.

Allan Syms, chairman of Bould Opportunities, said: “I am delighted to have exchanged on the acquisition of Cizzle Biotechnology. I believe that the acquisition presents huge value for Bould Opportunities, with a technology looking to address an urgent clinical need. Shakespeare Martineau has been excellent in supporting us and Cizzle Biotechnology through the process, they understand our sector and have helped us get the best possible outcome for all stakeholders.”

Keith Spedding, partner and business transaction specialist at Shakespeare Martineau led the deal on behalf of Cizzle Biotechnology Limited, said: “The biotech industry is absolutely fascinating, we are seeing huge movements and rapid growth in this market as clinical need increases and technology and innovation races to keep up.  It’s been a long journey but great to get this deal done which will allow Cizzle now to continue to develop its blood test for the benefit of many in the continuing fight against cancer.

Keith was assisted by Jennie Davis and Gweni Rees-Evans.

Helping to detect lung cancer early

According to Cancer Research UK, in 2018 there were 17 million new cases of lung cancer globally with cases expected to grow to more than 27 million by 2040.

Allan continued: “Lung cancer is incredibly hard to diagnose at an early stage as there are few clinical symptoms. However, I believe that Cizzle Biotechnology can provide a solution to this problem through the blood test it is developing for the early detection of a majority of the different forms of lung cancer.”

Allenby Capital Limited acted as financial adviser and Novum Securities Limited as broker.

Dominic Prentis and Richard Pull of Goodman Derrick acted for Bould.

Contact us 

For further information please contact Keith Spedding or another member of the corporate team.

Our updated guide to recovery and resilience covers everything you need to navigate your organisation out of lockdown, unlock your potential and make way for a brighter future. Further advice in relation to COVID-19 can be found on our dedicated coronavirus resource hub.

From inspirational SHMA Talks to informative webinars, we have lots of educational and entertaining content for life and business. Visit SHMA® ON DEMAND.

How can we help?

Our expert lawyers are ready to help you with a wide range of legal services, use the search below or call us on: 0330 024 0333

SHMA® ON DEMAND

Listen to our SHMA® ON DEMAND content covering a broad range of topics to help support you and your business.

Employment Breakfast: Disciplinary Processes – Getting them right

13 Dec

Nick Jones, Partner - Employment | Cecily Donoghue, Senior Associate - Employment
Employment Breakfast: Disciplinary Processes – Getting them right

Employment Law experts Nick Jones and Cecily Donoghue will guide attendees through an overview […]

Biodiversity Net Gains – new mandatory requirements for developers

30 Nov

Anna Cartledge, Partner | Louise Ingram, Partner
Biodiversity Net Gains – new mandatory requirements for developers

New mandatory requirements (introduced by the Environment Act 2021) will drive the delivery and […]

Directors’ Forum: Social Housing – In the eye of a perfect storm

23 Nov

Louise Drew, Partner & Head of Building Communities | Jon Coane, Partner
Directors’ Forum: Social Housing – In the eye of a perfect storm

Registered providers are facing more challenges than ever, with increasing demand conflating with growing […]

Biodiversity Net Gains – new mandatory requirements for landowners

21 Nov

Anna Cartledge, Partner | Amy Cowdell, Partner
Biodiversity Net Gains – new mandatory requirements for landowners

New mandatory requirements (introduced by the Environment Act 2021) will drive the delivery and […]

Our Latest Thoughts

All the latest views and insights on current topics.

Multilaw Global Conference 2023 

21 Nov

Corporate

Multilaw Global Conference 2023 

Read article Right Arrow

Review Site Snapped Up By Defaqto-Owner Fintel in £7.5m Deal

16 Nov

Corporate

Review Site Snapped Up By Defaqto-Owner Fintel in £7.5m Deal

Read article Right Arrow

Welcoming Renowned Corporate Partner To Our Sheffield Hub

27 Sep

Corporate

Welcoming Renowned Corporate Partner To Our Sheffield Hub

Read article Right Arrow

A Guide For Chinese Stakeholders Coming To The UK

11 Sep

Corporate

A Guide For Chinese Stakeholders Coming To The UK

Read article Right Arrow

Multi-Million Pound Fundraising For London Based Data Platform

31 Aug

Corporate

Multi-Million Pound Fundraising For London Based Data Platform

Read article Right Arrow