AIM’S NEWEST COMPANY, Venn Life Sciences (VENN:AIM), is set to generate plenty of value as it embarks on an acquisition drive in 2013.

The company, a manager of stage II to IV clinical trials for the life sciences industry, raised £2.5 million from its initial public offering (IPO) (Dec 14).

Dublin-based Venn will use the proceeds to fund its project pipeline, expand the group’s European coverage and make acquisitions.

The intention is to build a pan-European business of between 400 to 500 employees up from the current level of around 40.

The company is led by a team with pharmaceutical, merger and acquisition and Aim experience. Richardson co-founded and led Alltracel Pharmaceuticals, which listed on Aim in 2001 and was sold seven years later for more than $40 million. Chairman David Evans was on the board of Aim-quoted BBI Holdings, which grew to an £84 million concern from £4 million.

Shares says: Buy Venn Life Sciences at 33.5p.