NEW YORK, April 4 – Cambridge Antibody Technology of Melbourn, UK, said Wednesday it had filed a request with the US Securities and Exchange Commission to list American Depositary Receipts on the Nasdaq.
Rowena Gardner, head of corporate communications at CAT, said the company, which trades on the London Stock Exchange, decided to list ADRs on the Nasdaq in order to better service investors.
“Forty percent of our investors are in the states,” Gardner said.
She said she did not know when the ADRs would be listed, but added that she believed the company was towards the end of the regulatory process.
CAT uses develops human monoclonal antibodies for drug discovery and development and is also in agreements to develop protein chips through collaborations with Zyomyx and Oxford Glycosciences.
The company raised 41 million pounds ($58.8 million) in its March 1997 initial public offering and 93 million pounds in a secondary offering in March last year.