Just three years ago, Circassia was riding high, raising £200 million ($285 million) from its initial public offering (IPO), making it the most successful European biotech stock launch ever.

Circassia plans to the use the proceeds to fund the purchase of two companies - Sweden's Aerocrine and UK-based Prosonix - that will allow it to expand into asthma and other respiratory diseases ...

We believe the UK small-cap market offers a myriad of opportunities across a wide range of different businesses and industries.

https://doi.org/10.2307/207388 • https://www.jstor.org/stable/207388 ...