Paris – 6 February 2015 – EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for SMEs[1], today congratulatedPoxel, a biopharmaceutical company developing drugs for diabetes, on its successful listing in Compartment C of the Euronext Paris regulated market.
Based in Lyon, France, and founded in 2009, Poxel is a biopharmaceutical company that develops innovative, first-in-class drugs for metabolic diseases, in particular Type 2 diabetes. The company was spun off from Merck Serono, a past leading global player developing and marketing drugs for the treatment of metabolic disorders. Poxel has a rich pipeline of new-generation, high-potential products including Imeglimin, the first oral diabetes drug candidate, offering patients better control of the pathology’s progression by targeting directly the two main defects of diabetes.
Poxel (ticker symbol: POXEL) was listed through the admission to trading[2] of the 17,346,686 shares making up its equity, including 3,749,999 new shares issued under a Global Offering[3] after the partial exercice of the extension option and before any exercise of the over-allotment option.
The admission and issue price of Poxel shares was set at €6.66 per share. Market capitalisation was €116 million on the day of listing, and the transaction raised a total of €25 million.
Thomas Kuhn, CEO of Poxel, said: “We are delighted to announce today the success of our Initial Public Offering on the Euronext in Paris. This achievement is the result of the contribution of each of our shareholders – longstanding and new, our partners and our members of staff, who I would like to thank wholeheartedly for their support and participation in this major success. This IPO will enable us to continue the development of our diabetes drug candidates, and we remain fully focused on meeting the upcoming challenges that await us”.
Eric Forest, Chairman and CEO of EnterNext noted: “We are delighted to welcome Poxel, a Lyon-based company and one of the first biotechnology business to list on our markets in 2015. Listing with Euronext will raise Poxel’s profile with investors and enable it to benefit from the expertise and assistance of EnterNext’s teams. Today there are 64 biotech and medtech companies listed on Euronext markets, making us the European benchmark for sector companies seeking financing to support the next stages of their development and looking to expand on international markets. This is also a red-letter day for Euronext’s European markets since we are today welcoming three new listings—in Paris, Brussels and Amsterdam[4]— a performance which perfectly illustrates our positioning as one of Europe’s major centres for raising capital.”
[1]Small and medium-size enterprises.
[2]Company shares will be traded on as-if under a single trading line “POXEL AIW” up to and including 9 February 2015.
[3]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
[4]Poxel in Paris, Bone Therapeutics in Brussels and GrandVision in Amsterdam.