C share for Sitka’s VCT

Sitka Health Fund VCT has launched an offering for subscription of up to £12m ‘C’ shares. The capital, which may increase the fund to £20m, will be used to expand the group’s portfolio of investments.

The fund has made 11 investments to date including Biovex, a cancer therapeutics company, Amura, an anti-infective therapeutics company, Inforsense, a bioinformatics business and Eyebright, a chain of cataract and optical day surgery centres.

The offer will remain open until 30 June 2004, unless fully subscribed at an earlier date. Application has been made to the UK Listing Authority for the ‘C’ shares to be admitted to the official list and to the London Stock Exchange for the admission of such shares to trading on its market for listed securities.

Sitka was founded in 1999 by Gerard Tardy, Louis Nisbet and Kevin Allen and provides investment and advisory services to European companies in the UK and France with a particular focus on the healthcare sector.