Context
Zealand Pharma is a late-stage Danish biotechnology company focused on the development of peptide-based medicines for metabolic and gastrointestinal diseases.
The company has already brought more than 10 drug candidates into clinical development, and its lead drug candidate Dasiglucagon HypoPal® Rescue Pen is currently being reviewed for regulatory approval in severe hypoglycaemia by the US FDA, with the PDUFA date (review deadline) set for 27 March 2021.
Dasiglucagon HypoPal® Rescue Pen would further contribute elevating Zealand Pharma to commercial stage, with the potential to extend the product’s reach in additional valuable indications.
The company intends to use the net proceeds of the transaction to help fund commercialization and pre-launch activities for Dasiglucagon HypoPal® Rescue Pen and to support other pipeline projects, including ongoing phase 3 trials for glepaglutide and follow-up compound dapiglutide, both for SBS (short bowel syndrome).
About Zealand Pharma
Zealand Pharma A/S (Nasdaq: ZEAL) ("Zealand") is a biotechnology company focused on the discovery, development, and commercialization of next generation peptide-based medicines that change the lives of people living with metabolic and gastrointestinal diseases. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market. Zealand’s robust pipeline of investigational medicines includes three candidates in late stage development, and one candidate being reviewed for regulatory approval in the United States. Zealand markets V-Go®, an all-in-one basal-bolus insulin delivery option for people with diabetes. License collaborations with Boehringer Ingelheim and Alexion Pharmaceuticals create opportunity for more patients to potentially benefit from Zealand-invented peptide therapeutics.
Zealand was founded in 1998 in Copenhagen, Denmark, and has presence throughout the U.S. that includes key locations in New York, Boston, and Marlborough (MA).
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co helps Zealand Pharma raise DKK 749 million from the global capital markets via an accelerated bookbuild
Bryan, Garnier & Co acted as Co-manager on Zealand Pharma’s Follow-on Offering, alongside Goldman Sachs, Jefferies, Danske Bank and Nordea.
Zealand Pharma raised DKK 749m, representing c.10% of existing share capital, with strong support from existing and new shareholders.
The transaction priced at a tight discount of 4.9%, despite challenging market conditions in Europe and the US.
This is Bryan, Garnier & Co’s third capital raise for Zealand Pharma since helping lead its Copenhagen IPO in 2010.
This transaction underlines the ability of Bryan, Garnier & Co, which advised 12 publicly quoted healthcare companies in 2020, to support growth financing.
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