Big bucks for peanuts
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Big bucks for peanuts

21.10.2014 - Yet another European company is looking for money on the US stock exchange – French DBV Technologies SA is all set up for its secondary listing on NASDAQ. The French biotech company hopes to rake in US$98m for its peanut allergy patches.

The Bagneux-based food allergy specialist is currently listed on Euronext Paris, where it first went public in 2012. DBV intends to offer 4.3 million ADRs (American Depository Receipts) at US$23 per ADR – with two depository shares representing each ordinary share – to help finance its Phase IIb clinical trial of its product Viaskin Peanut (DBV-712) – an electrostatic patch for peanut allergy treatment. 

The DBV was awarded Fast Track Designation from the FDA for its peanut allergy patch, which delivers biologically active compounds to the immune system through the skin. The French biotech company aims to begin Phase III trials in the first quarter of 2016. It also intends to initiate Phase I trials for its Viaskin Milk for cow’s milk protein allergy in children. 

DBV’s primary shareholders at an undiluted basis are Sofinnova Partners (14%), Bpifrance (13%), Baker Brothers Investments (6%) and CEO Pierre-Henri Benhamou (4%). If the immunotherapy company is successful in its bid, it will have a fully diluted market value of US$964m. 

The French biotech is not the only company looking for US financing: Recently, Forward Pharma raised a record US$220.5m with their IPO, while German Probiodrug AG and Swiss Molecular Partners AG are aiming for €32m and €145m, respectively. 



18.10.2014 After raising US$220.5m (€172m) with its IPO, fast Forward Pharma’s lucky streak hits an obstacle on the road to success with shares falling 17% on its first day of trading.


17.10.2014 Abandoned at the altar: Abbvie has dropped plans to acquire UK’s Shire following new US tax rules. This puts a stop to one of the biggest pharma mergers planned this year.


15.10.2014 Bicycle Therapeutics wins €25m backing by major pharma venture capitalists for the development of a new class of oncology drugs.


13.10.2014 Biotechnology IPOs are back in fashion – German Probiodrug AG wants to raise €32m with its IPO, whilst Swiss Molecular Partners AG hopes the launch of its IPO will gain a revenue of €145m.


10.10.2014 Actavis has announced plans to merge with American pharma company Durata - a move that will strengthen their infectious diseases portfolio.


07.10.2014 In an unprecedented move, the European Medicines Agency has approved a system allowing the future analysis of clinical trial data.


06.10.2014 Another fund from the Netherlands has raised €92m in its first close and will invest the money in companies developing innovative therapeutics, medical devices and diagnostics.


03.10.2014 Dutch venture capitalist LSP has achieved its monetary milestone by raising €80m for its fifth fund - with a goal of €150m.


02.10.2014 New EU commission chief Jean-Claude Juncker is on the defensive after members of Parliament and NGOs criticised his reorganisation of the health technology units.

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No liability assumed, Date: 21.10.2014