Raises €21.1 million, market capitalisation totals €108 million
Paris – 30 March 2015– EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for SMEs[1],today congratulatedOSE Pharma, a biotechnology company based in France that is developing immunotherapy treatments for invasive/metastatic late-stage cancers, on its successful listing in Compartment C of Euronext’s regulated market in Paris.
Paris-based OSE Pharma was founded in 2012 by Dominique Costantini and Emile Loria, two experienced entrepreneurs specialising in biotechnology. The company is developing an innovative cancer immunotherapy solution called Tedopi® — a patented combination therapy now entering a Phase 3 study for patients with advanced non-small cell lung cancer (NSCLC). In Europe, Tedopi® is considered as personalised medicine in a population of treatment-responsive patients; in the USA, it has been granted orphan drug status and thus qualifies for accelerated clinical development.
OSE Pharma (ticker symbol: OSE) was listed through the admission to trading of 9,980,947 ordinary shares making up its equity, including 1,955,000 new shares issued under a Global Offering[2] after full exercise of the extension clause and before possible exercise of the over-allotment option.
The admission and issue price of OSE Pharma was set at €10.80 euros per share, at the high end of the price range. Market capitalisation on the day of listing was €108 million, and the operation raised a total of €21.1 million.
Dominique Costantini, OSE Pharma’s CEO and co-founder, said:“We are proud to have convinced French and European investors to join forces and support us, and we wish to thank them. The cost of our pivotal clinical phase III study of Tedopi® is now fully covered and we are looking into a new exploratory phase II study (in therapeutic combination or for new indications against other cancers). At this point, we have the resources we need to pursue our clinical studies for the next three years, to bring a new therapeutic solution to patients — and to start actively seeking pharmaceutical partners to promote our technology and our product.”
Eric Forest, Chairman and CEO of EnterNext, said: “We are delighted to welcome OSE Pharma to Euronext in Paris. This is the fourth biotech company to list on Euronext since January this year, making us the European benchmark for life-science businesses seeking capital. OSE Pharma’s listing will raise its profile with investors and give it access to promotional input and other assistance from EnterNext.”