Four years after mega IPO, Circassia set for small-cap exchange

Four years ago, Circassia looked to have ushered in a new era for biotech IPOs on the London Stock Exchange when it raised £200 million ($252 million) to finance development of anti-allergy drugs. Today, Circassia is set to limp away from the main London stock exchange to take up a spot on the AIM sub-market having failed to live up to expectations as a company or as a harbinger of change.