University of Sheffield spin-out company sells off shares on London Stock Exchange

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A University of Sheffield spin-out company, which develops innovative treatment for patients with hormone deficiencies, will be bringing its products to market after raising £30m by selling shares on London Stock Exchange.

Diurnal Group plc was formed out of the research work of Professor Richard Ross, an expert in endocrinology from the University of Sheffield’s Department of Oncology and Human Metabolism department.

The company develops hormone therapeutics to aid lifelong treatment for rare and chronic endocrine conditions.

Prof Ross said the new funds would allow the company to accelerate the development of its two lead products in or due to begin late-stage clinical development.