01.03.2013 - Single-chain antibody specialist Ablynx has raised €31.5m through a private placement of new shares using an accelerated bookbuilding procedure.
The Ghent-based company placed 4,377,919 new shares at a price of €7.2 per share to institutional investors – a 6.7% discount on the previous closing price. This brings the total number of shares after the issue on 5 March to 48,157,116. The private placement was oversubscribed and certain pre-IPO shareholders and warrant holders sold 1,872,081 shares at the same price in conjunction with this transaction.
Ablynx said it will use the money to develop further its rheumatoid arthritis nanobody ALX-0061, which delivered positive interim Phase II results in mid- February. The company said the cash injection will give it more flexibility in the structure and timing of potential licence deals for its candidate drugs caplacizumab (anti-vWF) and ALX-0171 (anti-RSV). Additionally, Ablynx said it plans to drive its pre-clinical programmes forward. Ablynx investor KBC Securities NV acted as Global Coordinator and together with Bryan, Garnier & Co. Ltd and Nomura Code Securities Ltd as Joint Bookrunners for the placement.
24.03.2015 Poland has announced the closing of a new venture capital fund at US$42m (€32m). The fund, which is the first of its kind in Poland, is dedicated to the Life Sciences with a strong connection to Central and Eastern Europe.
23.03.2015 A BASF-led consortium aims to decrease bio-based production costs using industrial biotechnology. The Horizon2020 funded consortium is the sixth project of the SPIRE Public Private Partnership and has a budget of €14m.
17.03.2015 Pharma giants GlaxoSmithKline (GSK) and Johnson & Johnson (J&J) will be key collaborators in a new global fund for dementia research to address the rising threat posed by dementia and Alzheimer’s disease.
12.03.2015 With around 1,400 companies and 2,400 participants, the springtime counterpart of BIO-Europe enjoyed a successful premiere in France this year. The overall mood of the European biotech industry was positive, and the French hosts in particular reported new initiatives.
10.03.2015 The Gates Foundation has dipped into its purse to bring infectious diseases vaccines to the poorest countries. German vaccine specialist CureVac is set to receive US$52m for their mRNA platform technology.
05.03.2015 The IPO wave in the biotech sector shows no signs of slowing down. An Irish life sciences fund set up by former Elan executives plans to raise €325m with its IPO, whilst Summit Therapeutics has announced its IPO pricing of US$34m on Nasdaq.