Phosphagenics seeks listing on UK's AIM

Melbourne-based Phosphagenics (ASX:POH) -– formerly Vital Capital -– has flagged its intention to seek a dual listing on the London Stock Exchange's Alternative Investment Market (AIM).

The company said in a statement that it believes the listing will provide access to a more developed capital market for the company’s globally orientated healthcare products

Investment bank Williams de Broë has been appointed as nominated adviser and stockbroker for the dual listing process.

Phosphagenics last month announced the successful completion of animal studies for its transdermal delivery system for morphine. The system uses d-alpha tocopherol combined with a phosophate molecule to create an enhanced form of Vitamin E which carries morphine across the dermis.