Trellus Health PLC (TRLS) has announced plans to float on AIM, raising £25mln in an intital public offering later this month.
The firm is commercialising a health solution for chronic condition management, initially focused on inflammatory bowel diseases.
Its platform aims to cut healthcare costs by avoiding emergency visits and to coordinate and deliver personalised care remotely via telemedicine.
Research conducted by the Mount Sinai IBD Center showed an 85% reduction in department visits and hospitalisations.
Trellis said it has received strong indications of demand for the placing of new ordinary shares and has also launched a restricted offer, to be made available for a limited period only to qualifying existing shareholders.
Admission is targeted for 28 May, while Nplus1 Singer Advisory LLP is acting as nominated adviser and corporate broker.