Genome profiler launches IPO
Paris – This year’s third small IPO went out on the Alternext market of Euronext Paris this year, with molecular diagnostics company IntegraGen S.A. raising EUR6.7m through the sale of 800,149 shares at a8.40, giving it a post-money valuation of EUR31.7m. Founded in 2000, IntegraGen is using its Genome Hybrid Identity Profiling approach to identify disease genes by analysing the shared genes among a small sample of family members with a given disease. The goal is to develop and distribute molecular diagnostics based on the identified markers. The company is focused on cancer and autism. In the oncology setting, IntegraGen recently signed a partnership with in vitro diagnostics specialists BioMerieux S.A. to create a molecular diagnostics laboratory within the Assistance Publique Hôpitaux de Paris. The main goal of this partnership is to validate biomarkers. With the proceeds from the IPO, IntegraGen says it plans to launch a pair of biomarker assays for hepatocellular carcinoma and metastatic colorectal cancer by 2013. In addition, IntegraGen has identified eight SNPs associated with a doubled risk of autism.
Two other IPOs went on the Alternext in April. Autoimmune and inflammation company Neovacs S.A. raised EUR10m, while bioprocessing specialist Deinove S.A. brought in EUR12.1m.