Date: 2014-10-27
Type of information: IPO
Company: Probiodrug (Germany)
Investors:
Amount: € 22.5 million
Funding type: IPO
Planned used: The funds will be used for the clinical development of Probiodrug\'s lead candidate PQ912 in early Alzheimer\'s patients, as well as its other candidates PBD-C06 and PQ1565. Probiodrug is now preparing a Phase 2a trial of PQ912 in early AD patients
Others: * On October 23, 2014, Probiodrug, a biopharmaceutical company dedicated to the research and development of novel therapeutic solutions to treat people with Alzheimer\'s disease, announced the successful completion of its Initial Public Offering, which was launched on 10 October 2014. Probiodrug\'s shares will be listed on Euronext Amsterdam and begin trading on an \"if-and-when- delivered\" basis on Monday 27 October 2014 under the symbol \"PBD\". The offering was priced at €15.25 per share. In total, 1,524,205 shares are placed with investors which includes 48,796 over-allotment shares. The gross proceeds from the Offering will be €22,499,987, with the net proceeds from the Offering amounting to approximately €20.2 (in each case excluding any proceeds from the placement of the over-allotment shares). To the extent that the Greenshoe option will be exercised, which may be exercised within 35 days following commencement of trading, the Company will issue additional new shares at the Offer Price out of its authorized capital. If the Greenshoe option is exercised in full, the total number of new shares issued by the Company in the course of the Offering would be 1,524,205 and the total net proceeds would be approximately €20.9 million.The order book has been built with high-quality demand from institutional investors in Europe and the United States of America, as well as demand from Dutch retail investors. In addition, existing shareholders of the Company purchased 1,031,454 Offer Shares for a total of approximately €15.7 million. The Company, its management team and the existing shareholders have agreed to a lock-up of 12 months, subject to customary conditions and exceptions. The lock-up undertaking of existing shareholders includes the new shares issued to the lending shareholders in fulfilment of their redelivery claims under the share loan as described above, but does not include any Offer Shares purchased by the existing shareholders in the course of the Offering.
Therapeutic area: Neurodegenerative diseases
