21st December 2015

Finance Wales portfolio company successfully completes £30 million Initial Public Offering (IPO) on the Alternative Investment Market (AIM)

Headquartered at the Medicentre in Cardiff, Diurnal develops innovative approaches to drug delivery and has today successfully completed an Initial Public Offering (IPO) on the London Stock Exchange’s Alternative Investment Market (AIM) raising £30 million.

Finance Wales was a cornerstone investor in Diurnal and its investment first attracted the company to Wales. Finance Wales has since become a long-term backer of Diurnal, co-investing alongside IP Group and other investors.

Welcoming Diurnal’s news, Dr Melanie Goward, Deputy Fund Manager in Finance Wales’ Technology Ventures team said: “Finance Wales has continued to back Diurnal since we made our first seed investment in this impressive company in 2009 and we congratulate the team at Diurnal on achieving this key milestone. It’s exciting to see Wales become home to a listed specialty pharmaceutical company like Diurnal. I look forward to more of the companies in Finance Wales’ growing technology ventures portfolio following Diurnal’s example.”