HEDGE fund guru Crispin Odey has added his name to a gilded list of investment royalty by taking a stake in biotech firm Circassia.
Odey joins top fund veterans Neil Woodford, Sir Paul Ruddock and Paul Tudor Jones as a backer of the firm, which is developing a drug to make cat allergies a thing of the past. Goldman Sachs has also invested. Odey’s group Odey Asset Management took a 12 per cent stake in Circassia Pharmaceuticals, according to a stock market statement filed on Friday.
Circassia floated in London on Thursday, in the biggest biotech initial public offering of shares for nearly 20 years.
Invesco Perpetual, which housed top UK investor Woodford, Ruddock’s former firm Lansdowne Partners and Paul Tudor Jones’ Tudor Capital were all early backers of Circassia when it launched in 2007.