Investment company Conviction Life Sciences is hoping to raise up to £100 million via an initial public offering on the Main Market of the London Stock Exchange on 16 December.

It is targeting 20% annualised growth in total net asset value over time and intends to construct a portfolio consisting of 20 to 40 positions in public and private companies across the spectrum of life science from novel therapeutics to medical devices.

Investment manager and founder of Conviction Life Sciences Andrew Craig told Shares the combination of tougher European legislation and the Neil Woodford debacle had reduced retail and institutional investor interest in the life sciences sector.

Craig said only six out of 50 small cap managers now have any exposure to this part of the market. This has created opportunities to invest at more attractive prices, particularly companies in the UK, Europe and Australia.

Around a third of Conviction Life Sciences’ net asset value will be invested in companies with a market cap above $500 million, providing what Craig described as ‘ballast’ to the portfolio.

The company believes value creation will be driven by structural global demographic trends and accelerating technological and scientific progress. It will charge a 1% management fee and a performance fee.

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