Bryan, Garnier & Co successfully leads the €65.5 M Capital Increase for Transgene

Paris, March 27th 2014 – Bryan, Garnier & Co, the European Growth Investment Bank, announces today the completion of the € 65.5 million capital increase of Transgene, a listed biopharmaceutical company focused on discovering, developing and manufacturing targeted immunotherapies for the treatment of cancer and infectious diseases. Bryan Garnier & Co acted as Global Coordinator and Sole Manager on the capital increase.

Transgene has raised a total of €65.5 million via a two-step capital increase.

• The first step of this capital increase was the completion of a rights issue, launched on February 28th, 2014, which raised total gross proceeds of €45.5 million through the issuance of 4,553,551 new ordinary shares. All new shares were subscribed by the shareholders and purchasers of the preferential subscription rights as part of the right issue.
• The second step carried out on March 24th, 2014, was a private placement of €20 million through the issuance of 2 million additional shares. The private placement was largely oversubscribed and enabled foreign investors, a majority being US funds, to become shareholders of Transgene.

This fundraising improves the company’s financial position. It provides the necessary financial resources to prepare Phase 3 for TG4010 in metastatic non-small lung cancer in combination with chemotherapy and to initiate the Pexa-Vec Phase 3 in liver cancer.

Philippe Archinard, CEO of Transgene, commented: “Bryan Garnier’s industry expertise, high level of commitment and unique reach on institutional investors in the United States and in Europe have been extremely valuable in the success of this capital increase.”

Olivier Garnier, Managing Partner at Bryan, Garnier & Co, said: “Transgene is one of the leading and most promising biotech companies in Europe. We are delighted to accompany Transgene and its management at a time the company faces the most exciting time of its history. With this fundraising, Transgene is well-financed to execute its strategy successfully and maximize the value of its products.”

Herve Ronin, Managing Director Healthcare at Bryan Garnier added: “The deal structure combining a right issue and a private placement into one transaction made it possible to preserve the interests of existing shareholders while offering new investors the opportunity to invest in Transgene.”

Christian Finan, Director Equity Capital Markets at Bryan Garnier commented: “This fundraising confirms the strong interest of US investors in quality European healthcare stocks. Despite somewhat volatile equity markets, this capital increase is a success with substantial oversubscription and good stock performance post-transaction.”

About Transgene

Transgene (NYSE-Euronext: TNG), a member of the Institut Mérieux Group, is a publicly-traded French biopharmaceutical company focused on discovering, developing and manufacturing targeted immunotherapies for the treatment of cancer and infectious diseases. Transgene’s programs utilize well-tolerated viruses with the goal of indirectly or directly killing infected or cancerous cells. The company’s four clinical-stage programs are: TG4010 for non-small cell lung cancer; Pexa-Vec for liver cancer; TG4001 for oropharyngeal cancer (under a collaboration agreement with the EORTC) and TG4040 for chronic Hepatitis C. Transgene has concluded corporate strategic agreements for the development of two of its immunotherapy products: an exclusive option agreement with Novartis for the development and commercialization of TG4010 and an in-licensing agreement with U.S.-based Jennerex, Inc. for the development and commercialization of Pexa-Vec in certain territories. The company also has several programs in research and pre-clinical development that are based on its core viral vector technology.