LONDON, June 15 (Reuters) - Biotech company Evofem isworking with U.S. bank JP Morgan and British brokerCenkos on a London stock market listing aimed atraising about $200 million, three sources familiar with thematter said on Monday.
San Diego-based Evofem, which specialises in women'shealthcare and develops products such as non-hormonalcontraception, is seeking funding to launch new drugs and thesources said an initial public offering (IPO) could come beforethe end of the year, adding that the timing and amount to beraised could change.
A spokeswoman for Evofem confirmed that a UK listing is oneof various financing options the company is in the early stagesof evaluating, adding that no firm decision has been made atthis point and no financial advisers have been engaged.
JP Morgan declined to comment, while a spokesman for Cenkoswas not immediately available for comment.
Evofem is backed by Neil Woodford, one of Britain'sbest-known fund managers, who originally invested in Evofemwhile at Invesco. Since leaving Invesco in 2013 to set upWoodford Investment Management, he has also taken a stake inEvofem through his Equity Income Fund.
A spokesman for Woodford Investment Management declined tocomment.
Woodford has invested in a range of small, early-stagepharmaceuticals companies, including Circassia, whichlisted last year in one of London's largest biotech IPOs fordecades.
The previously hot biotech sector has cooled in the UnitedStates in recent months, with increased shorting by investorsfearing a market bubble after a surge in the Nasdaqbiotechnology index.
Worldwide healthcare activity in equity capital markets hadrisen 125 percent year on year to $54.9 billion at June 11, thefourth most active sector, Thomson Reuters data shows. (Reporting By Freya Berry; Editing by David Goodman)
