Date: 2015-07-20
Type of information: Capital increase
Company: Sensorion (France)
Investors: undisclosed international family office specialised in life sciences
Amount: €8 million
Funding type: capital increase
Planned used: The funds will be used to accelerate the clinical development of Sensorion products. The R&D portfolio currently comprises three products: SENS-111 for treating severe bouts of vertigo, SENS-218 for treating medium and long-term complications associated with progressive lesions of the inner ear and SENS-300 for protecting the inner ear from the toxicity resulting from chemotherapy using platinum salts. The proceeds from the recent Initial Public Offering allowed the Company to initiate a first phase 2 programme
for a first product. Sensorion will be able to put in place a second phase 2 programme, or phase 2/3 for an orphan indication, for a second product. Furthermore, the Company will continue its innovation efforts associated with its “Inner Ear” technological platform.
Others: * On July 20, 2015, Sensorion, a biotech specialising in the treatment of inner ear diseases, announced that it has carried out a capital increase via an €8 million international private placement. Following its IPO on the Alternext market in Paris in April, Sensorion raises additional funds to support the Company’s development through a private placement with an international family office specialised in life sciences. The Company has thus issued 800,000 new shares at a nominal value of €0.10 each for a total of €8,000,000.
This operation was carried out following the decisions adopted by the Board meetings of July 7 and 17, 2015 in accordance with the delegation of powers granted by the Shareholders’ Meeting of September 12, 2014 and at a negotiated price representing a 20% discount on the average closing price of the Company’s share over the last 45 trading days prior to the launch of the operation.
The capital increase was carried out via the issuance of ordinary shares without preferential subscription rights through a private placement amongst qualified investors in accordance with article L. 225-136 of the French Commercial Code and article L. 411-2 II of the Monetary and Financial Code. The new shares carry dividend rights and were immediately admitted to trading on the Alternext regulated market in Paris under ISIN FR0012596468 and ticker ALSEN. Within the framework of this capital increase, Sensorion signed a lock-up commitment regarding the Company’s shares of 90 days from July 17, 2015, subject to certain usual exceptions.
Sensorion’s share capital now consists of 5,878,990 shares. For information, a shareholder holding 1.00% of the Company’s share capital prior to the operation would now hold 0.86% of its share capital.
Therapeutic area: Otorhinolaryngology
