Koronis Pharmaceuticals, a privately held U.S. biotech firm working on a new kind of HIV drug, is looking to list in London later this year or early in 2012, its chief executive said. Seattle-based Koronis -- pioneering a new HIV drug designed to accelerate mutation of the virus that causes AIDS to the point where it collapses -- needs around $15 million to take its experimental product to the next stage of clinical tests. CEO Donald Elmer said he had been in talks with banks in London because raising small sums of that size was no longer feasible on the Nasdaq market in the United States, given the heavy costs of maintaining a listing there.
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