By Daniel Hunter

Pharmaceutical company Quantum Pharma have announced plans to float on AIM in order to raise funds in excess of £100 million.

The County Durham-based firm will list on London's junior market in December and be valued at £125 million.

Andrew Scaife, chief executive of Quantum Pharma, said the decision to list on AIM makes "both strategic and commercial sense" as the business enters the next stage of its development.

"Having established our position as a market leader in the UK niche pharmaceutical market in which we operate, we feel that by joining AIM, Quantum will be able to capitalise on the fantastic market opportunities that are available to us both in the UK and overseas," he said.

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