Date: 2017-07-31
Type of information: Private placement
Company: Neovacs (France)
Investors: undisclosed U.S. institutional investors
Amount: €6.0 million
Funding type: private placement
Planned used:
- Neovacs will use these funds to accelerate the development of its lead therapeutic vaccine, IFN? Kinoid through the completion of preclinical and clinical trials in lupus, dermatomyositis and type 1 diabetes. This includes:
- - completion of international Phase IIb clinical trial in lupus
- - completion of Phase IIa clinical trial in dermatomyositis (orphan disease)
- - completion of preclinical proof of concept study in type 1 diabetes.
Others:
- • On July 31, 2017, Neovacs announced that it has received commitments from U.S. institutional investors for a capital increase totaling €6.0 million in the context of a private placement. Participation in the capital increase is limited to institutional investors active in the biotechnology sector.
- Neovacs will issue a total of 9,230,769 ordinary shares with attached equity warrants at a price of €0.65 per share. The warrants will entitle their holders to purchase up to 7,846,154 additional ordinary shares at an exercise price of €1.00 per share.
Therapeutic area: Autoimmune diseases
Is general: Yes
