Diurnal’s vision is to become the world’s leading endocrinology specialty pharma-company targeting under-served patient needs in chronic hormonal diseases. The company has identified a number of therapeutic opportunities in this area and is developing pharmaceutical products to target this multi-billion dollar market opportunity.
Finance Wales and Fusion IP, later acquired by IP Group who continued to invest in the company, have supported the growth of Diurnal, a spinout from Sheffield, through several investment rounds as its lead products successfully progressed through clinical trials.
On December 24 2015, the company successfully listed on AIM, raising £30million, giving a market capitalisation of approximately £75m. Diurnal joins a small number of AIM listed life science companies with headquarters in Cardiff.
With the listing proceeds, Diurnal will build a focused sales and marketing operation to access specialist centres across Europe and the US to maximise the value from their product candidates once approved. This will create a base for further growth through in-licensing.
The company encapsulates Wales’ ambitions for commercialising its innovative science base and, thanks to investment, have succeeded in many areas Wales strives to promote.
Hear from Diurnal’s Chief Scientific Officer, Professor Richard Ross, and Chief Financial Officer, Ian Ardill, joined by key investors Dr Melanie Goward, Technology Seed Fund Manager, Finance Wales and David Baynes, Chief Operating Officer, IP Group, previously CEO Fusion IP.