French biotechnology company Lysogene has kicked off well with its initial public offering on Euronext Paris stock market by raising €22.6 million.
The company focusing in gene therapy targeting two rare central nervous system diseases, reached a milestone in its development.
Lysogene can esure the development of its two drugs for two central nervous system, currently uncovered, deadly polysdisabling diseases.
Karen Aiach, founder and CEO of Lysogene, said: “We would like to take this opportunity to thank our shareholders such as Sofinnova Partners, BpiFrance Investissement (InnoBio) and Novo A/S as well as new partners such as Financière Arbevel and Alto Invest in connection with the conversion of its convertible bonds, which have joined us during this IPO.”
On the basis of a price per share of €6.80, Lysogene’s market capitalisation is approximately €82.1 following the transaction.
Furthermore, Lysogene’s free float will be approximately 11.69% of the share capital.
The Share Capital Increase, combined with the €2 m resulting from the conversion of the convertible bonds of Alto Invest, Lysogene said, will enable it to increase its share capital up to €24.6 m.