Context
Founded over 14 years ago, GeNeuro develops new treatments for multiple sclerosis (MS), Type 1 diabetes and other potential human endogenous retrovirus-mediated diseases.
The company leverages the biology of human endogenous retroviruses (HERVs) to stop potential key causal factors associated with these disorders. The HERV field is a new frontier pioneered by GeNeuro since 2006, based on 15 years of R&D at Institut Mérieux and INSERM.
In November 2019, GeNeuro and the Karolinska Institutet/Academic Specialist Center of Stockholm agreed to launch a new clinical study of GeNeuro’s flagship product Temelimab in MS. Karolinska will conduct a single-centre study of Temelimab in patients with non-active progressive MS (without relapses). First results are expected at the end of 2021.
This capital raise will be sufficient to cover clinical studies and GeNeuro’s operating costs until the first results of Karolinska study.
About GeNeuro
GeNeuro‘s mission is to develop safe and effective treatments against neurological disorders and autoimmune diseases, such as multiple sclerosis, by neutralizing causal factors encoded by HERVs, which represent 8% of human DNA. GeNeuro is based in Geneva, Switzerland and has R&D facilities in Lyon, France. It has 24 employees and rights to 17 patent families protecting its technology.
Bryan, Garnier & Co acts as Sole Bookrunner on GeNeuro EUR17.5 million Private Placement
Bryan, Garnier & Co acted as Joint Global Coordinator on GeNeuro’s Euronext IPO in 2016, and acted as Sole Global Coordinator and Sole Bookrunner on its January 2020 EUR17.5m Private Placement.
GeNeuro raised EUR17.5m from Tier-1 European and US biotech specialists and institutional investors, and from its historical shareholder Institut Mérieux.
The Private Placement was priced at EUR2.95 per share, representing a discount of 7% to the closing price pre-announcement (30 January, 2020).
This is another landmark transaction for Bryan, Garnier & Co’s Equity Capital Markets and Healthcare practices, demonstrating its unique distribution capacity both in Europe and the US.
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