Cancer focused diagnostic specialist ValiRx (LON:VAL) is looking forward to being a member of the new Social Stock Exchange (SSE), where investors can learn more about firms with social and environmental credentials.
The company has been admitted on Thursday as a founder member, following the launch of the exchange by UK prime minister, David Cameron.
In a speech ahead of the G8 summit, Cameron has said that the SSE showed the UK is at the heart of financial innovation and social investment.
The global market for social impact investment is estimated to be worth US$9 billion and expected to grow to between US$200 billion and US$650 billion over the next ten years.
ValiRx is one of the first tranche of member companies to be admitted. Others include Straight plc (LON:STT), Good Energy plc (LON:GOOD) and Accsys plc (LON:AXS). Twelve companies are currently pending admission.
The idea is the exchange connects investors looking for a return with publicly listed firms. To be admitted to the online portal, companies have an independent impact report on them by specialists.
Minister for civil society Nick Hurd said: "Around the world investors are looking to do more with their money, and ensure it has a positive social impact. Once again Britain is leading the way in this field by hosting the world’s first Social Stock Exchange to provide a trusted source of investments that can achieve that impact.”
ValiRx chief executive Dr Satu Vainikka, said: "We at ValiRx are very pleased to be admitted as a founder member to the SSE and to hear the Prime Minister's very public endorsement of the social impact investment market today.
"Working as we do in the oncology space, we are obviously very conscious of the substantial positive impact our work will have on society, and on human health in particular, should our trials be successful and we are delighted that proper credence and recognition will now be given to our and others' 'social and ethical dividends' going forwards".
