Date: 2014-12-09
Type of information: Private placement
Company: Novacyt (France)
Investors: Alto Invest (France), new and existing Novacyt investors
Amount: €3.1 million
Funding type: private placement
Planned used: The funds will be used for new market launches of Novacyt\'s proprietary next generation cytology platform NovaPrep® in 2015, including China and the Far East. Additionally, the financing will be used to support the development and commercialisation of molecular diagnostics for infectious diseases starting with the launch of its new products used to diagnose the fungal infections Aspergillis and Pneumocystis.
Others: * On December 9, 2014, Novacyt, an international specialist in cancer and infectious disease diagnostics, today announces a private equity placement financing of €3.1million. New institutional investors in the Company include Alto Invest, who co-invested in the round alongside other new and existing Novacyt investors. Under the terms of the financing, investors will receive 744 004 of new Novacyt shares which were submitted to the Alternext Paris. The share capital of Novacyt following the capital increase will amount to €418 048,13 representing 6 270 722 shares with a nominal value of 1/15th of a euro each. The dilution resulting from the capital raise is 13.46% compared to the 5,526,718 shares currently outstanding. The new shares will be listed on Alternext Paris and rank Pari Passu with existing shares under ISIN code FR0010397232. The fundraising builds on a strong year for Novacyt following its acquisition of UK diagnostics specialist Lab21 and the strong progress reported in the integration of the two businesses during the second half of 2014. With clear existing revenue streams and significant prospects for expansion, Novacyt is well positioned to exploit the opportunity presented by the highly attractive diagnostics market. Novacyt was advised by Allegra Finance and Oriel Securities to conduct this financing.
Therapeutic area: Cancer - Oncology - Infectious diseases - Diagnostic
