BiVictriX Therapeutics PLC (LON:BVX) moved to an early 25% premium on its first day of trading on AIM.
The company, which raised a gross £7.5mln from the process, is developing a drug technology that potentially offers a revolution in cancer treatment that is highly targeted and avoids hitting healthy cells.
The new funds will be used to expand the team and to bankroll preclinical R&D work on BVX001, a new approach to tackling acute myeloid leukaemia.
Listed at 20p, the shares were marked 5p higher in the first hour of trade on the London Stock Exchanges giving a market capitalisation of just shy of £20mln.
Chief executive Tiffany Thorn told investors: "Today's listing on London's AIM market is a major milestone for BiVictriX.
“Our vision is to revolutionise cancer therapy for the most difficult to treat cancers, making curative treatments available to all.
“The funds raised will help us to accelerate our growth and expedite the development and delivery of our pioneering, highly selective cancer therapeutics to patients diagnosed with some of the most challenging cancers and supporting patients who are currently in urgent need of more effective medicines.”