Phylogica plans Frankfurt listing

Perth-based drug discovery company Phylogica plans to list on the Frankfurt Stock Exchange as part of its strategy to raise its profile in the international financial community.

The company, which is also listed on the Australian stock exchange, said the secondary listing is potentially a transformational period for Phylogica as it ramps up the commercialisaton of its drug discovery platform.

Phylogica has the intellectual property rights to a collection of proteins called phylomers, which are focused on developing therapies for the treatment of inflammatory diseases such as asthma, acute stroke damage, and diabetes.

German investment bank Close Brothers Seydler Bank AG has been appointed lead sponsor to the Frankfurt listing.

The secondary listing comes five months after Phylogica signed an agreement with Europe's largest pharmaceutical company, Roche, to evaluate phylomers.