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Euronext N.V.. (4/15/16). "Press Release: Euronext Welcomes Swiss Biotechnology Pioneer GeNeuro to Paris Market. Raises €33 Million, Market Capitalisation Totals €190 Million". Paris.

Organisation Organisation GeNeuro S.A. (Euronext Paris: GNRO)
Products Product GNbAC1 (Geneuro SA)
  Product 2 financial services
Index term Index term GeNeuro–SEVERAL: investment, 201604 IPO €33m+€1k IPO with 2.54m+9.4k new shares at Euronext Paris
Person Person Martin-Garcia, Jesús (Eclosion 201207 General Partner + Founder + GeNeuro 201512 CEO)
     


Euronext today celebrated the listing of GeNeuro, a biopharmaceutical company developing new treatments for autoimmune diseases including multiple sclerosis, in Compartment B of its regulated market in Paris.

Founded in 2006, GeNeuro has advanced rapidly over the past decade in the development of anew approach for treating autoimmune diseases, gaining the support of highly reputed pharmaceutical groups. The company is currently developing the first treatment that directly targets a potential cause of multiple sceloris (MS), a disease thataffects an estimated 2.5 million individuals worldwide and for which there is currently no treatment that significantlyslows the long term progression of disability. GeNeuro’s unique therapeutic approachhas the potential not only to slow or even halt the progression of multiple sclerosis, but also to tackle other autoimmune diseases, including CIDP (chronic inflammatory demyelinating polyneuropathy) – an orphan neurological disease – and type-1 diabetes.

GeNeuro (ticker symbol: GNRO) was listed through the admission to trading of 14,658,118 shares, including 2,538,500 new shares issued under a Global Offering[1], after the partial exercice of the extension option and before the over-allotment option.

The admission price and issue price of GeNeuro was set at €13 per share. Market capitalisation on the day of listing was around €190 million, and the IPO raised a total of €33 million.

Jesús Martin-Garcia, Chairman and CEO of GeNeuro, said: “We are delighted to announce our successful IPO on Euronext's regulated market in Paris. The IPO will help GeNeuro step up its developments in multiple sclerosis along with its growth in Europe and the USA, but also in new autoimmune indications. GeNeuro is a Swiss company with a very strong presence in France, including Research and Development centres in Lyon and Savoie region. Listing on Euronext’s Paris market, which has in recent years become the leading European financial centre for biotechnology companies, was therefore the natural choice for our company.”


[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.


About GeNeuro

GeNeuro, founded in 2006, is a spin-off from the Mérieux Institute and is creating a technological platform for the development of new treatments targeting potential causes of neurological disorders and autoimmune diseases such as multiple sclerosis, chronic inflammatory demyelinating polyneuropathy and type-1 diabetes.

GeNeuro's first product, GNbAC1, is a monoclonal antibody that neutralises a protein expressed by human endogenous retroviruses, part of the human genome that is normally silent. GeNeuro believes that this drug candidate could become the first treatment addressing a suspected causal factor of multiple sclerosis and could therefore represent a paradigm shift in the options for treating this disease.

GNbAC1 is being developed under a collaboration agreement with Servier that could generate, excluding royalties, over €360 million in revenue for GeNeuro, €37.5 million of which is to be allocated to the financing of the current Phase IIb clinical trial in multiple sclerosis.

GeNeuro is based in Geneva, Switzerland and has R&D facilities in Archamps, Haute-Savoie and Lyon. It has 24 employees and rights to 16 patent families protecting its technology. For more information, visit: www.geneuro.com


About Euronext

Euronext is the primary exchange in the Euro zone with more than 1 300 listed issuers worth more than €3.0 trillion in market capitalization as of end December 2015, an unmatched blue chip franchise consisting of 25 issuers in the EURO STOXX 50® benchmark and a strong diverse domestic and international client base.

Euronext operates regulated and transparent equity and derivatives markets. Its total product offering includes Equities, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. Euronext operates regulated markets, Alternext and the Free Market; in addition it offers EnterNext, which facilitates SMEs’ access to capital markets.


Disclaimer

This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.

This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located at www.euronext.com/terms-use.

© 2016, Euronext N.V. - All rights reserved.

   
Record changed: 2017-01-06

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