Acacia Pharma set to float on the UK's main market next month

(MENAFN- ProactiveInvestors)Acacia Pharma a specialist in treatments for the side effects of surgery cancer and cancer medicines is to float on the London Stock Exchange's main market in October. The group has four lead product candidates one in final stage trials and three currently going through Phase 2. APD421 a drug to combat side-effects including nausea in post-operative patients is currently being evaluated in a number of Phase 3 studies. The company reckons there are around 61mln surgical procedures in the US and wants to build a specialist sales force for ADP421. Dr Julian Gilbert chief executive said: 'Acacia Pharma has a strong pipeline of four product candidates and a clear plan to market them through our own US sales organisation.' Acacia's three other drugs are APD403 for chemotherapy-induced nausea APD515 for dry mouth in advanced cancer and APD209 for muscle wasting in cancer patients. As a private company Acacia has raised £35mln to date and made a £4.9mln loss before tax last year. The company intends to use the proceeds from its IPO to bring product candidates APD421 and APD403 to approval and launch in the US.