Date: 2012-02-14
Type of information: IPO
Company: Adocia (France)
Investors:
Amount: € 25.3 million (increased to €27.36 million following partial exercise of over-allotment option)
Funding type: IPO
Planned used: The capital raised through the IPO will provide additional funds to finance Adocia's operations, and specifically new clinical trials to validate proof of concept of its innovative protein formulations based on its proprietary technology, BioChaperone® in the fields or regenerative medicine and chronic diseases (BioChaperone® is a library of polysaccharides modified with naturally occurring molecules. These polymers are designed to form a reversible molecular complex with therapeutic proteins in order to solubilize and stabilize these proteins and to control their delivery).
Others: Adocia, biotech company specialized in the formulation of therapeutic proteins for the treatment of diabetes and wound chronic, has successfully completed its IPO on NYSE Euronext Paris and has raised € 25.3 million. The issue price of new shares was set at €15.88, which corresponds to the top of the range requested. This price represents a market capitalization of approximately €96.1 million.
This is the first IPO of a biotech company in France in 2012.
The first trading day will take place as from 20/02/2012.
* On February 6, 2012, Adocia also announced that it has received, dated January 30, 2012, a nonrefundable fee of € 7.6 million corresponding to the initial payment of $ 10 millon under the license agreement signed in late 2011 with Eli Lilly on its insulin analog with rapid-acting formulated BioChaperone ® technology.
* On March 15, 2012, Adocia announced that, through its IPO on the regulated market NYSE Euronext in Paris, the Lead Manager and Bookrunner, Dexia Securities France, has partially exercised over-allotment option, resulting in the issuance of 130,268 new shares at a price of supply, or 15.88 euros per share.
Consequently, the total number of shares available to Adocia market through its IPO amounted to 1,723,066 new shares, ie 27.87% of the capital and 17.27% of human Adocia vote. The total number of shares ADOCIA after partial exercise of the overallotment option is increased to 6,181,776 shares. The total gross proceeds of the capital increase of Adocia, including the retail offering and placement overall, is increased to €27.36 million.
Therapeutic area: Metabolic diseases
