Date: 2015-11-20
Type of information: Private placement
Company: Newron Pharmaceuticals (Italy)
Investors:
Amount: CHF 5.4 million
Funding type: private placement
Planned used: The proceeds will accelerate the advancement of the recently announced planned international pivotal trial with sarizotan for the treatment of patients with Rett syndrome.
Others: * On November 20, 2015, Newron Pharmaceuticals announced that it has completed a private placement of 209,364 shares with a leading US-based biotechnology and healthcare specialist fund, raising gross proceeds of 5.4 million USD/CHF. The subscription price was set at CHF 25.60 per share. Under the agreement, the fund holds an option to subscribe to another 209,364 newly issued shares no later than June 30, 2016, governed by the March 24, 2015 EGM authorization. The capital increase was approved at the Company’s Extraordinary Shareholder’s Meeting on March 24, 2015. Once issued, the new shares will be immediately and freely tradable. Closing of the transaction will be subject to customary Italian and Swiss regulatory requirements. The new shares will be listed and traded on the SIX Swiss Exchange under the same ISIN as the Company’s existing shares (ISIN: IT0004147952) on or around November 25, 2015. Piper Jaffray acted as exclusive financial advisor to Newron in connection with the transaction.
Therapeutic area: CNS diseases - Neurological diseases - Neurodegenerative diseases
