Oxurion Successfully Closes EUR >10 Million in Private Placement
07 Marzo 2022 - 3:00AM
Oxurion Successfully Closes EUR >10 Million in Private Placement
- Led by new top-tier healthcare institutional
investors along with participation by current major
shareholders
Leuven,
BELGIUM, Boston, MA, US
- MARCH 7,
2022 –
10.00 AM
CET – Oxurion
NV (Euronext Brussels:
OXUR) (the
"Company" or "Oxurion"), a
biopharmaceutical company developing next generation standard of
care ophthalmic therapies, with a clinical stage assets in vascular
retinal disorders, announces today that it successfully completed a
private equity placement by which it raised EUR 10.4 million in
gross proceeds for 7,226,039 new shares issued at EUR 1.44 (the
"Private Placement"). The financing was led by new
top-tier healthcare institutional investors and included
participation from current major shareholders. Two-thirds of the
proceeds were provided by new US and European investors, including
Belgian-based NOSHAQ SA and Banque CPH CV, and the transaction was
priced at a four percent premium to the closing price prior to the
announcement of the transaction.
Tom Graney, CEO of
Oxurion, commented: “We are
delighted to attract top-tier US and European healthcare investors
and at the same time, participation from our current major
shareholders, through this transaction, which priced at a premium
to our share price prior to announcement. This investment comes on
the heels of the recent positive Phase 2 Part A results with
THR-149 for the treatment of diabetic macular edema (“DME”) that
were presented at Angiogenesis 2022 and is a vote of confidence in
the value of our pipeline. Strategically, this financing represents
an important step as we prepare to announce data from THR-687, our
second Phase 2 program, in the second quarter this year. We see
meaningful opportunities ahead for Oxurion to disrupt and grow the
$12 billion global ophthalmology market, currently being served by
anti-VEGF therapies, with new treatments for patients with DME and
other retinal diseases, and we welcome our important new investors,
which represented two-thirds of the proceeds, to the team.”
Oxurion plans to use the net proceeds of the
Private Placement to progress the development of its two clinical
stage assets, THR-149 and THR-687, which are currently in Phase 2
clinical trials for DME: THR-149 for second-line treatment and
THR-687 for first-line treatment.
About
OxurionOxurion (Euronext Brussels: OXUR) is a
biopharmaceutical company developing next generation standard of
care ophthalmic therapies, which are designed to better preserve
vision in patients with retinal vascular disorders including
diabetic macular edema (DME), the leading cause of vision loss in
diabetic patients worldwide as well as other conditions, including
wet age-related macular degeneration (wet AMD) and macular edema
following retinal vein occlusion (ME-RVO). Oxurion is aiming to
build a leading global franchise in the treatment of retinal
vascular disorders based on the successful development of its two
novel therapeutics. THR-149 is a potent plasma kallikrein inhibitor
being developed as a potential new standard of care for the 40-50%
of DME patients showing suboptimal response to anti-VEGF therapy.
THR-687 is a highly selective pan-RGD integrin antagonist that is
being developed as a potential first line therapy for DME patients
as well as wet AMD and potentially ME-RVO. Oxurion is headquartered
in Leuven, Belgium, with corporate operations in Boston, MA. More
information is available at www.oxurion.com.
Important information about
forward-looking statementsCertain statements in this press
release may be considered “forward-looking”. Such forward-looking
statements are based on current expectations, and, accordingly,
entail and are influenced by various risks and uncertainties. The
Company therefore cannot provide any assurance that such
forward-looking statements will materialize and does not assume any
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events, or any other
reason. Additional information concerning risks and uncertainties
affecting the business and other factors that could cause actual
results to differ materially from any forward-looking statement is
contained in the Company’s Annual Report. This press release does
not constitute an offer or invitation for the sale or purchase of
securities or assets of Oxurion in any jurisdiction. No securities
of Oxurion may be offered or sold within the United States without
registration under the U.S. Securities Act of 1933, as amended, or
in compliance with an exemption therefrom, and in accordance with
any applicable U.S. state securities laws.
For more information, please contact:
Oxurion NVTom GraneyChief
Executive OfficerTel: +32 16 75 13
10tom.graney@oxurion.com Michaël DillenChief Business
OfficerTel: +32 479 783 583michael.dillen@oxurion.com |
EUMEDiSTRAVA ConsultingDavid
Dible/ Sylvie Berrebi/Frazer HallTel: +44 (0) 203 928
6900oxurion@medistrava.com USWestwicke,
an ICR CompanyChristopher BrinzeyTel: +1 617 835
9304chris.brinzey@westwicke.com |
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