Date: 2015-04-25
Type of information: IPO
Company: Ose Pharma (France)
Investors:
Amount: € 21.1 million
Funding type: IPO
Planned used: Ose Pharma is a European cancer immunotherapy company with a multi-epitope technology named Tedopi® that directs the body’s immune system to generate a specific cytotoxic T response to prevent cancer cell growth. This immunotherapy product combines 10 “neo-epitopes” directed against five tumour associated antigens (TAA). These five TAA have been selected because their presence is linked to a poor prognosis and the severity of various cancers. These neo-epitopes generate strong specific T cytotoxic responses that fight cancer and prevent tumour escape.In its most advanced application it is about to enter a pivotal Phase III study in patients with advanced non-small cell lung cancer (NSCLC) who express HLA-A2 and who have failed first line therapy. Tedopi® has orphan drug status in the USA and is considered as personalised medicine in Europe in HLA-A2 positive patients. The Phase 3 clinical programme is scheduled to start in 2015 and will include centers in Europe and in the USA in order to obtain registration in non-small cell lung cancer. The study will recruit patients with invasive/metastatic non-small cell lung cancer (NSCLC), expressing the HLA-A2 receptor (45% of the NSCLC population). Ose Pharma is also planning a new Phase II clinical trial in combination with another immunotherapy treatment in NSCLC.
Others: * On March 25, 2015, OSE Pharma, a biotechnology company based in France, developing immunotherapy treatments against metastatic late-stage cancers, announces the successful completion of its Initial Public Offering (IPO) on Euronext’s regulated market in Paris. The offer which closed on 24th March 2015 generated strong interest from institutional as well as private investors, from both France and Europe. Total demand amounted to 5 361 427 shares, corresponding to 57.9 M€, i.e. a subscription rate of 3.6 (on the basis of the middle price range and before exercise of Extension clause and over-allotment Option). The global placement (80% of the Global Offering), intended mainly for institutional investors, was 2.5 times over-subscribed and the public open price offering, intended mainly for individual investors in France, was 8 times oversubscribed. Due to this strong demand, OSE Pharma’s board of directors met today and set the capital increase price at 10.80 € per share, at the top-end of the price range. The board decided to fully exercise the extension clause. OSE Pharma granted to Invest Securities an over-allotment option, exercisable until 24th April 2015 (inclusive), increasing the maximum to 293 250 new shares, representing 3.2 M€. Following the IPO, the share capital of OSE Pharma will consist of a total of 9 980 947 shares. Upon listing, based on the offer price (10.80 €), the market capitalisation of OSE Pharma is 108 M€. The settlement-delivery of all shares is expected on 27th March 2015. Trading operations on Euronext Paris will start on the 30th March 2015.
Therapeutic area: Cancer - Oncology
