UK crowdfunder SyndicateRoom has been named sole distribution agent for the successful raise by medical company Scancell. Scancell develops immune system stimulants to treat cancer.
SyndicateRoom gave its members the chance to apply for new shares in an AIM-listed company and receive the same discount given to institutional investors.
In a release SyndicateRoom said more than £16.5 billion was raised from placings and IPOs on the London Stock Exchange. An average discount of 10 percent was seen. That means traditional investors received more than £1.65 billion of value.
“SyndicateRoom was built on the fundamental belief that everyone should have equal access to investment opportunities, and that individual investors should get the same deal as the professionals,” CEO and Co-Founder Goncalo de Vasconcelos said. “We’ve challenged City conventions by allowing crowdfunders to participate in a company’s offer of shares on equal terms to large institutional investors – and it will be for the benefit of individuals and companies across the UK who are confronting society’s most important challenges such as Scancell’s development of cancer treatments. “
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