Date: 2013-07-19
Type of information: Capital increase
Company: BioAlliance Pharma (France)
Investors: Financière de la Montagne (France),IDInvest Partners (France)
Amount: € 8.74 million
Funding type: issue of new shares
Planned used: This capital increase will enable BioAlliance Pharma: - To accelerate its Phase II trial with Validive®, in development for the prevention of chemoradiation therapy-induced oral mucositis in patients with head and neck cancer. This financing will allow an increase in the number of investigating centers in Europe and especially in the United States, thus helping to finalize the recruitment of patients early 2014. The preliminary results of this study should be available later on that year. - To support the extension of the Phase III trial with Livatag®, in development for the treatment of advanced hepatocellular carcinoma (HCC), further to the first satisfactory recommendations of the DSMB . The study for this orphan indication is planned to be expanded to additional European countries and to the United States shortly afterward.
Others: * On July 19, 2013, - BioAlliance Pharma has announced a successful capital increase, with maintenance of preferential subscription rights, launched on July 2, 2013, and which will enable the Company to raise €8.74 million, after implementation of the extension clause.
The amount raised will enable BioAlliance Pharma to accelerate two major clinical trials in its oncology products portfolio:
- Validive®: opening of an important number of investigator center in the phase II trial in Europeand especially in the United States over the next few weeks, and
- Livatag®: extension of phase III trial to centers in Europe and quickly to centers in the United States.
The total request has reached 3,52 millions of shares for a global amount of 12,3 millions euros, representing a subscription rate of 155%. The Chief Executive Officer has decided to fully implement the extension clause, thereby bringing the number of offered shares from 2.269.964 to 2.496.960 The gross amount of the capital increase, which has been oversubscribed, is 8.739.360 euros and implies the creation of 2.496.960 new shares after the implementation of the extension clause. 1.862.653 new shares have been subscribed on an irreducible basis, representing around 75% of new shares to be issued after exercice of the extension clause. The demand on a reducible basis accounted for 1.656.467 new shares and thus will be partially allocated up to 634.307 new shares. The share capital will thus be increased from €4.539.928,75 to €5 164 168,75 divided into 20 656 675 shares at €0.25 nominal value per share. The settlement and delivery of the new shares will occur on July 24, 2013 and 2.496.960 new shares will be listed on NYSE Euronext Paris on July 25, 2013 on the same listing line as the existing shares of the company.
* On June 28,2013, BioAlliance Pharma has launched a capital increase with maintenance of preferential subscription rights for an amount of € 7.94 million [The amount may be increased to € 8.74 million resulting from the full exercise of the extension clause. 2,269,964 shares (the number of existing shares before this operation is: 18,159,715 shares) will be issued at a price of 3 .50 euros per share.
The new shares will be reserved in priority : - To the holders of existing shares registered in their accounting securities account at the end of the accounting day from 1 July 2013, who will receive preferential subscription rights;
- To assignees of preferential subscription rights.
Some main shareholders have already committed to subcribe to the present capital increase : Financière de la Montagne : 2 499 997,50 € and IDInvest Partners : 2 499 997,50 €
Therefore, the subscription commitments, in Rights and in Excess Shares, represent a total of 4 999 995 €, i.e. 63% of the initial amount of the capital increase.
Therapeutic area: Cancer - Oncology - Rare diseases
