London, UK, 5 October 2015 Shield Therapeutics ("Shield"), a specialty pharmaceutical company focused on the development and commercialisation of secondary care-focused pharmaceuticals, announces the postponement of its Initial Public Offering ("IPO"), which was due to price this week. Shield announced its intention to float on 7 September 2015 and the timetable has coincided with a significantly unsettled period in global capital markets, specifically in the pharma and biotech sector, resulting in sudden levels of uncertainty and volatility.
Carl Sterritt, CEO of Shield Therapeutics, commented: "The response we have received from investors on both our business and our products has been very positive, but this recent dramatic increase in volatility, which has led to significantly negative market conditions for the biotech and pharma sector, currently does not allow us to launch the IPO and achieve a smooth transition to the public markets. Shield's near-term revenue potential and late stage product portfolio remain as compelling as they ever were and, with our world-class team, for the time being we will continue on our path to commercialisation as a private company with the full support of our existing shareholder base. We would like to thank all investors who took the time to meet with management and showed such interest in our company."