Fundraisings and IPOs

Date: 2017-05-02

Type of information: Capital increase

Company: Noxxon Pharma (Germany)


Amount: € 11 million

Funding type: capital increase

Planned used: The funds will be used for the clinical development of NOX-A12 in advanced solid tumors and general corporate purposes. They allow Noxxon Pharma to conduct the NOX-A12 clinical trial in collaboration with Merck & Co in patients with metastatic colorectal and pancreatic cancer who generally do not respond to checkpoint inhibitors alone.


  • • On May 2, 2017, Noxxon Pharma announced the completion of a capital increase subscribed for by certain of its shareholders and the YA II PN Ltd investment fund. The company has agreed to issue 64,512 new shares, each with a par value of €1, at a unit price of €15.50 (representing a discount of 29.2% on the closing price of April 28, 2017 including the share premium, raising a total of €1 million and accounting for approximately 3.15% of the company’s share capital. Following this capital increase the number of shares outstanding stands at 2,115,609. 53,761 share warrants, with an exercise price of €18.60 were issued to the investors who subscribed for the new shares. The share warrants will have the same characteristics as the BSA share warrants attached to the ODIRNANE bonds. YA II PN’s objective in subscribing €250 thousand for these shares1 as part of the capital increase is to increase the free float and liquidity of the Company’s shares.
  • Noxxon Pharma has concluded an agreement with YA II PN on the arrangement of financing through the issue of ODIRNANE bonds (undated bonds convertible into new shares and/or exchangeable for existing shares, the Notes) with BSA (share warrants) attached in a maximum nominal amount of up to €10 million, divided into several tranches. Should all the tranches be taken up and should all the BSA share warrants be exercised, up to €20 million in additional capital could be raised, €10 million of which from the redemption of the ODIRNANE bonds in new Company shares and €10 million from the exercise of the share warrants attached to the ODIRNANE bonds. The issue of the ODIRNANE bonds with BSA warrants attached is contingent upon the transfer of the Company’s shares to Alternext Paris’ public offering compartment.
  • As part of this financing of the company through notes and warrants, certain shareholders in Noxxon have signed a lock-up agreement covering all their shares until December 31, 2017. These shareholders represent approximately 65% of the share capital of the company before conversion of the Kreos shares including: NGN BioMed Opportunity II, Sofinnova Capital, entities affiliated with Edmond de Rothschild Investment Partners SCA, certain entities affiliated with Seventure Partners, DEWB Deutsche Effecten- und WechselBeteiligungsgesellschaft, CD-Venture GmbH, entities affiliated with TVM Capital GmbH, VC Fonds Berlin GmbH & VC Fonds Technologie Berlin GmbH.

Therapeutic area: Cancer - Oncology

Is general: Yes