Raises €33 million, market capitalisation totals €190 million
Paris – 15 April 2016– Euronext today celebrated the listing of GeNeuro, a biopharmaceutical company developing new treatments for autoimmune diseases including multiple sclerosis, in Compartment B of its regulated market in Paris.
Founded in 2006, GeNeuro has advanced rapidly over the past decade in the development of anew approach for treating autoimmune diseases, gaining the support of highly reputed pharmaceutical groups. The company is currently developing the first treatment that directly targets a potential cause of multiple sceloris (MS), a disease thataffects an estimated 2.5 million individuals worldwide and for which there is currently no treatment that significantlyslows the long term progression of disability. GeNeuro’s unique therapeutic approachhas the potential not only to slow or even halt the progression of multiple sclerosis, but also to tackle other autoimmune diseases, including CIDP (chronic inflammatory demyelinating polyneuropathy) – an orphan neurological disease – and type-1 diabetes.
GeNeuro (ticker symbol: GNRO) was listed through the admission to trading of 14,658,118 shares, including 2,538,500 new shares issued under a Global Offering[1], after the partial exercice of the extension option and before the over-allotment option.
The admission price and issue price of GeNeuro was set at €13 per share. Market capitalisation on the day of listing was around €190 million, and the IPO raised a total of €33 million.
Jesús Martin-Garcia, Chairman and CEO of GeNeuro, said: “We are delighted to announce our successful IPO on Euronext's regulated market in Paris. The IPO will help GeNeuro step up its developments in multiple sclerosis along with its growth in Europe and the USA, but also in new autoimmune indications. GeNeuro is a Swiss company with a very strong presence in France, including Research and Development centres in Lyon and Savoie region. Listing on Euronext’s Paris market, which has in recent years become the leading European financial centre for biotechnology companies, was therefore the natural choice for our company.”
[1] The Global Offering was made up of a Public Offering that included an Open Price Public Offering and a Global Placement with institutional investors in France and other countries.
About GeNeuro
GeNeuro, founded in 2006, is a spin-off from the Mérieux Institute and is creating a technological platform for the development of new treatments targeting potential causes of neurological disorders and autoimmune diseases such as multiple sclerosis, chronic inflammatory demyelinating polyneuropathy and type-1 diabetes.
GeNeuro's first product, GNbAC1, is a monoclonal antibody that neutralises a protein expressed by human endogenous retroviruses, part of the human genome that is normally silent. GeNeuro believes that this drug candidate could become the first treatment addressing a suspected causal factor of multiple sclerosis and could therefore represent a paradigm shift in the options for treating this disease.
GNbAC1 is being developed under a collaboration agreement with Servier that could generate, excluding royalties, over €360 million in revenue for GeNeuro, €37.5 million of which is to be allocated to the financing of the current Phase IIb clinical trial in multiple sclerosis.
GeNeuro is based in Geneva, Switzerland and has R&D facilities in Archamps, Haute-Savoie and Lyon. It has 24 employees and rights to 16 patent families protecting its technology. For more information, visit: www.geneuro.com