Date: 2014-06-17
Type of information: IPO
Company: Pixium Vision (France)
Investors: French and international institutional investors, French retail investors, Bpifrance Participations (France), Sofinnova (France), Abingworth (UK), Omnes Capital (France), Innobio (France) Seventure (France)
Amount: €34.5 million
Funding type: IPO
Planned used: Pixium Vision will use the proceeds raised from the IPO to support the clinical development and commercial launch of its IRIS® Vision Restoration System (VRS) in Europe and the United States, as well as the development of the PRIMA VRS to the point of its commercialization in Europe. Clinical trials are currently underway with IRIS® in several centers in Europe with the goal of applying for CE Mark. Commercialization of IRIS® is expected to begin in 2015. Pixium Vision will continue to improve the performance of the IRIS® VRS notably through the development of new algorithms and software. PRIMA VRS is currently in preclinical development. The Company plans to begin clinical trials of PRIMA in Europe in 2016. Pixium Vision was created in December 2011 by Bernard Gilly, Prof. José-Alain Sahel and several renowned scientists from prestigious academic and technology institutions in France, including l’Institut de la Vision. The Company is also collaborating with scientific groups and clinicians at research institutes and clinical centers around the world, including Stanford University (USA). Pixium Vision’s shareholders include blue chip European venture capital and investment firms such as Sofinnova Partners, Omnes Capital, Abingworth, Bpifrance (through Innobio) and Seventure.
Others: * On June 17, 2014, Pixium Vision, a company developing innovative Vision Restoration Systems (VRS) to allow patients who have lost their sight lead more independent lives, announced the successful completion of its Initial Public Offering (IPO) on Euronext’s regulated market in Paris (Euronext Paris) raising a total of €34.5 million. The Board of Directors of Pixium Vision SA met on June 17, 2014 and decided to fully exercise the extension clause. Pixium Vision will issue 4,166,666 new shares at a price of €8.28 per share. Upon listing, Pixium Vision will have a market capitalization of €100.4 million ($135.9 million) based on the offer price. The offer benefitted from demand from high-quality French and international institutional investors, as well as from French retail investors. Among these high-quality investors, Bpifrance Participations has purchased shares for at total of €8.5 million representing 8.07% of the capital of Pixium Vision (assuming the full exercise of the overallotment option). In addition, existing shareholders. Bpifrance Participations, along with the Company’s existing shareholders, the Executive Chairman and the CEO have signed a shareholder agreement to provide Bpifrance Participations a seat on the Board of Directors, and have made lock-up commitments covering their shareholdings in the Company, to provide a stable environment to support Pixium Vision’s activities. Pixium Vision’s shares will be listed on Euronext Paris under the ISIN code FR0011950641 and ticker PIX. The first day of trading will be June 18, 2014 and settlement/delivery of the shares will take place on June 20, 2014.
Therapeutic area: Ophtalmological diseases
