Immunocore, which has raised a complete of $873.2 million since its inception, has joined with prescribed drugs AstraZeneca
AZN,
+0.92%,
GlaxoSmithKline
GSK,
-0.96%,
and Eli Lilly and Firm
LLY,
+2.19%,
amongst others, on its most cancers medication, in addition to the Invoice & Melinda Gates Basis.

It follows Blue Prism
PRSM,
-3.86%,
a London-listed software program firm specializing in robotic course of automation, which first indicated in November 2020 that it had begun exploring a list within the U.S. The group’s board of administrators reiterated in a full-year buying and selling replace on Jan. 14 that they had been exploring a secondary itemizing exterior of London. The corporate is presently listed on London’s junior AIM inventory market.

In a report in The Occasions on Monday, Blue Prism Chief Government Jason Kingdon stated that the corporate was itemizing within the U.S. as a result of People worth subscription software program firms extra extremely than British buyers, who, he stated, don’t have the identical information of the sector.

Kingdon additionally stated the London market was “too illiquid and too small.”

Blue Prism noticed its inventory slide 5% in London buying and selling on Monday. The corporate notched its fifth yr of consecutive income progress within the 12 months to the top of October 2020, and lowered its working loss from the yr prior by round £10 million ($13.6 million), to £81.6 million.

Learn extra: Britain and EU headed for monetary providers showdown

These two high-tech British firms are eyeing U.S. markets as the worldwide function of the London Inventory Alternate is altering within the wake of the U.Ok.’s exit from the European Union.

Following the top of the Brexit transition interval on Jan. 1, round $8 billion a day price of European share buying and selling largely moved from London to continental exchanges in Paris and Amsterdam.

Monetary providers weren’t coated by the post-Brexit commerce deal agreed upon by the U.Ok. and EU, and London finance professionals quoted by Monetary Information have stated they don’t count on an settlement on monetary providers to be struck for a couple of years.

Plus: U.Ok. and European Union agree on historic post-Brexit commerce deal

And this important studying: A Brexit Commerce Deal Has Lastly Been Struck. Right here’s What It Means for Markets and Traders.

Immunocore and Blue Prism aren’t the one high-tech British firms trying exterior of London.

London-listed meals supply large Simply Eat Takeaway
JET,
-0.74%
stated on Jan. 12 that it was pausing its choice to record completely in London.

After the merger of Danish Simply Eat and Dutch Takeaway.com in early 2020, the mixed firm had deliberate to delist its shares in Amsterdam in late February 2021 in favor of a London-only itemizing.

Nevertheless, with the group’s deliberate takeover of a U.S. peer, Grubhub, anticipated to finish in mid-2021, Simply Eat Takeaway has modified its tune.

The corporate stated it “will take into account, amongst different issues, liquidity and buying and selling volumes throughout the listings it is going to have in Amsterdam, London and New York, which is able to take time to discover a pure house following a cloth acquisition reminiscent of Grubhub.”

It isn’t all dangerous information for London. Meals supply firm Deliveroo is getting ready for a London itemizing in what may very well be the U.Ok.’s greatest IPO in two years. The corporate stated on Sunday it accomplished a brand new fundraising spherical, valuing the enterprise at greater than $7 billion.

On-line greetings-card retailer Moonpig set out plans final week to drift in London, in a transfer that might worth it at round $1.4 billion. Simply hours earlier, Dr. Martens confirmed it was looking for an IPO in London, which analysts stated worth the long-lasting shoe-and-boot-maker at round $4 billion.