Law firm Stephenson Harwood LLP has advised Shield Therapeutics plc on its £12 million fundraise by way of a co-ordinated exercise of existing warrants, subscription of new ordinary shares by the directors and a senior manager and a placing undertaken utilising a cash box structure.

Shield is a specialty pharmaceutical company focused on the development and commercialisation of late-stage pharmaceuticals that address unmet medical needs in secondary care. The funds raised will, alongside the company's existing cash resources, be used to fund increased commercialisation activities for Shield’s lead product, Feraccru, which has received European marketing approval for the treatment of iron deficiency in anaemia in adult patients with inflammatory bowel disease.

The Stephenson Harwood corporate team was led by partner Andrew Edge alongside partner Tom Nicholls, with support from associate Gabrielle Pugh.

Stephenson Harwood also acted for Shield on its AIM IPO in 2016.

Liberum Capital Limited and Peel Hunt LLP acted as joint bookrunners in respect of the placing. Liberum acted as Nominated Adviser to the company.