The Lexington, Mass.-based company said it has engaged Allenby Capital Limited as it explores options to seek admission onto the exchange. Allenby Capital is a London-based nominated advisor and broker for the exchange’s AIM market.
“We look forward to working with Allenby Capital to explore options for listing GI Dynamics shares on the AIM market. Allenby Capital comes highly recommended and has the relevant experience to fully explore this opportunity. AIM represents an attractive public equity market for international growth companies seeking to access capital. We also view AIM as a method of increasing GI Dynamics profile in our key European markets, which is synchronized with our commercial focus,” GI Dynamics prez & CEO Scott Schorer said in a press release.
In February, GI Dynamics released preliminary findings from the 1st clinical trial evaluating the use of its EndoBarrier treatment for obesity in adolescents, touting a 10% decrease in BMI with no serious adverse events.
The EndoBarrier device from the company is a plastic gut sleeve designed to prevent the absorption of nutrients from food as it exits the stomach and enters the intestinal tract.