A US Investor, Acacia Research, purchased 19 of the former Woodford Equity Income Fund’s biotech stock, and in one case managed to make £750,000 profit from one sale.  The stock was sold for 12 times the price paid by Acacia.

Although official filings in the matter do not disclose the exact amount paid for all of the stock, apart from Midatech Pharma (MTPH), it is understood that approximately £150m distributed between eight stocks has been transferred over to Acacia, which they were able to quickly offload a substantial proportion of, raising an estimated £128m.

Shares in US-listed Acacia soarted 58% when the news broke of its swoop from the former Woodford fund.

Full details of the deal can be viewed at: https://www.sec.gov/Archives/edgar/data/934549/000090266420002355/exhibit2_1.htm