Medesis Pharma Lists Successfully On Euronext Growth To Launch Several Phase II Clinical Trials
Euronext today congratulates the biotech company Medesis Pharma from Montpellier for its listing on Euronext Growth Paris (ticker code: ALMDP).
Founded in 2003, Medesis Pharma has developed a technology that allows the oral administration of active pharmaceutical ingredients, with the aim of addressing serious diseases for which there is no effective treatment. The biotech company goes public today in order to accelerate its development thanks to new recruitments, new collaborative programmes, and the realisation of at least three phase II clinical trials in 2021.
Medesis Pharma was listed through the admission to trading of the 4,357,453 shares making up its equity, of which 1,087,773 new shares were issued under a Global Offering[1], including the full exercise of the extension clause and the exercise of the over-allotment option.
The admission and issue price of Medesis Pharma shares was set at €6.76 per share. Market capitalisation was €29.5 million on the day of listing. The offering raised €7.4 million altogether.
The offering was a resounding success with international institutional and individual investors, with a global oversubscription rate of 7.4 times. At €35.5 million, the demand for the public offering underlines the strong appetite of individual investors in the current context.
Jean-Claude Maurel, CEO and founder of Medesis Pharma said: "We are pleased with the great success of Medesis Pharma's IPO and thank all the investors, both institutional and individual, who have placed their trust in us through this transaction. Medesis Pharma now has the means to accelerate its development by launching clinical trials on its main programmes and thus move closer to its objective, which is to treat serious diseases that currently lack effective treatments.”
Caption: Camille Leca, Euronext’s Chief Operating Officer Listing and Head of Listing in France, rang the bell during a virtual ceremony this morning with Jean-Claude Maurel, CEO and founder of Medesis Pharma, and his team, to celebrate the Initial Public Offering of the company.
About Medesis Pharma In order to advance in the treatment of serious diseases for which there is no effective treatment, Medesis Pharma is developing drug candidates based on its proprietary Aonys® technology for the delivery of active ingredients in the form of nanodroplets by mouth, which makes the delivery of the active ingredients to all cells effective, with the passage of the Hemato-encephalic Barrier. This innovative approach is being applied to future drugs to treat major diseases such as Alzheimer's disease, Huntington's disease, certain resistant cancers and severe respiratory inflammation. French biopharmaceutical company based near Montpellier, Medesis Pharma is the author of 15 scientific publications, holds 9 patents, the result of 17 years of research and is currently focusing on 4 projects entering Phase II clinical trials in the field of neurodegenerative diseases and the treatment of Covid-19. Medesis Pharma is also working on new applications of its technology in partnership with public research laboratories (CNRS, CEA, IRBA), major university hospitals in France, Canada and the United States, as well as private companies such as Transgene. For more information, please visit: www.medesispharma.com www.medesispharma.com/ipo
[1] 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.