Biopharmaceutical company specialized in allergies valued at € 89.3 million
Brussels, Paris – 11 May 2016 – Euronext today celebrated the listing of ASIT biotech on its Brussels and Paris markets. ASIT biotech joins a community of 77 life sciences issuers listed on Euronext.
Headquarted in Belgium, ASIT biotech s.a. (formerly known as Biotech Tools) is a clinical stage biopharmaceutical company focused on the development and future commercialization of a range of breakthrough immunotherapy products for the treatment of allergies, based on its ASIT+™ technology platform. The company was founded in 1997 as a spin-off company of the Université libre de Bruxelles.
ASIT biotech (ticker code: ASIT) raised € 23.5 million in new capital at a final offer price of € 7.00 per share. With a total of 12,756,800 shares admitted on the day of listing, the company has an initial market capitalisation of € 89.3 million.
The proceeds of the IPO will help ASIT biotech to support the preclinical and clinical development of product candidates, to cover general corporate purposes and to accelerate the discovery of new ASIT+™ platform-based product candidates.
Thierry Legon, Chief Executive Officer of ASIT biotech, declared: “After the successful closing of the subscription period, today’s listing marks a further major milestone in ASIT biotech's development and ambition to change the face of the current allergy immunotherapy (AIT) market by overcoming the main drawbacks of the existing AIT treatments. This initial public offering will support the strong momentum established by our achievements and will allow us to bring our gp-ASIT+™ lead product candidate for grass pollen allergy through Phase III, currently underway in Europe, and to move towards a first application for commercialisation in Germany. The management team and the Board of Directors would like to take this opportunity to thank both private and institutional investors for subscribing in the offer. It indicates a strong confidence in and support for our strategy.”
About ASIT biotech
ASIT biotech is a Belgian clinical stage biopharmaceutical company focused on the development and future commercialisation of a range of breakthrough immunotherapy products for the treatment of allergies. Thanks to its innovative ASIT+TM technology platform, ASIT biotech is currently the only developer of AIT product candidates consisting of a unique mixture of highly purified natural allergen fragments in an optimal size selection. This innovation results in a short treatment, expected to improve patient compliance and real-life effectiveness. ASIT biotech’s product pipeline entails two novel ASIT+™ product candidates targeting respiratory allergy with the highest prevalence (i.e. grass pollen: gp-ASIT+TM and house dust mite: hdm-ASIT+TM), that could significantly expand the current immunotherapy market. The Company believes that its innovative ASIT+™ platform is flexible and would be applicable across a range of allergies. ASIT biotech has a headcount of 22 staff members, at its headquarters in Brussels and a laboratory in Liège, Belgium.