Oxford biotech firm looks to list

Circassia, the Oxford biotech firm backed by hedge fund Lansdowne Partners and Goldman Sachs, is thought to be exploring plans to raise cash on the stock market. The company is close to finalising a cure for people allergic to cats. It is currently valued at £225m, based on a 20 per cent stake taken by its largest investors Imperial Innovations, then worth £45m. A float could value it at £400m, it is thought.