Bryan Garnier & Co advises DBV Technologies on its follow-on offering, raising $281.5m in July 2015, acting as financial advisor

Context

DBV Technologies is a clinical-stage French biopharma company developing Viaskin®, a proprietary technology platform with broad potential applications in immunotherapy.

Viaskin is based on epicutaneous immunotherapy, or EPIT®, DBV’s method of delivering biologically active compounds to the immune system through intact skin. With this new class of self-administered and non-invasive product candidates, the company is dedicated to safely transforming the care of patients with food allergies for whichthere are no approved treatments. DBV’s food allergyprogrammes include ongoing clinical trials of Viaskin Peanut and Viaskin Milk, and preclinical development of Viaskin Egg.

The company has been listed on Euronext Paris since 2012 and on Nasdaq since 2014.

Transaction highlights

• Bryan, Garnier & Co acted as financial advisor to the company alongside Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Barclays Capital Inc. and Leerink Partners LLC acting as the joint book-running managers and H.C. Wainwright & Co. acting as co-manager for the USD 282m offering.
• This transaction confirms Bryan, Garnier & Co’sexpertise in cross-border deals and its ability to reach institutional investors on both side of the Atlantic.
• It also illustrates Bryan, Garnier & Co’s unique ability to support European healthcare growth companies, in a variety of situations, on both European and US markets.
• With more than EUR 1billion of capital raised in the past 12 months, Bryan Garnier & Co tops the European fundraising league table in healthcare:
  • Bryan, Garnier & Co has been involved in several recent European healthcare company IPOs on Nasdaq, co-leading or co-managing five of the six largest: the USD 100m Nasdaq IPO of Celyad (Belgium, May 2015), the USD 317m Nasdaq IPO of Galapagos (Belgium, April 2015), the USD 133m IPO of DBV Technologies (France, October 2014), and the USD 86m IPO and USD 97m follow-on of LDR Holding (US/France, May 2014)
  • In H1 2015, Bryan, Garnier & Co was also involved in the GBP 20m follow-on of Advanced Oncotherapy and the GBP 106m IPO of Quantum Pharma on the London Stock Exchange, a EUR 27m PIPE for Nicox, a EUR 32 PIPE for Cardio3, as well as the EUR 37m IPO of Bone Therapeutics on Euronext
  • In 2014, Bryan, Garnier & Co acted as sole placement agent for the EUR 100m growth financing of MérieuxNutrisciences, which was that year’s largest European healthcare private placement.

Team members

• Olivier Garnier
• Hervé Ronin