Raises €31.6 million, market capitalisation €113.6 million
Paris – 10 July 2015– EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for SMEs, today celebrated the listing of Cellnovo Group (Cellnovo), a medical devices company that has developed and markets the first connected insulin micro-pump for managing diabetes. The company was admitted on the Compartment C of Euronext Paris.
Based in France and the United Kingdom, Cellnovo has developed and markets the first connected all-in-one diabetes management that helps make life easier for diabetics. Compact, tubeless, intuitive and entirely connected, Cellnovo’s insulin pump comprises a mobile touchscreen controller with an integrated blood-glucose meter. This unique device allows optimal management of insulin injections whilst ensuring extensive freedom of movement and peace of mind for patients. Thanks to the automatic transmission of data, it also allows the patient’s condition to be continually monitored by family members and healthcare professionals in real time.
Cellnovo aims to improve the quality of life of patients with type 1 diabetes and more generally all insulin dependent people, by using its technology to minimise the constraints and risks associated with this illness.
Cellnovo (ticker code: CLNV) was listed through the admission to trading on 10 July 2015 of the 10.683.873 ordinaryshares making up its equity, including 2.969.557 new shares issued through a Global Offering.
The admission and issue price of Cellnovo shares was set at €10.63per share. Market capitalisation was around €113.569.570on the day of listing. The total amount raised was €31.566.391million.
Eric Beard, Chairman and CEO of Cellnovo, said:«We are pleased to welcome new top-quality investors alongside our historical shareholders and Air Liquide Venture Capital. We thank each of them for putting their trust in our disruptive insulin pump technology. Now we look forward to working with them towards bringing the company to a next level, through the scale-up of our production capabilities and the speed-up of our commercial expansion.»
Albert Ganyushin, Head of International Listings , Euronext added: «We are delighted to welcome Cellnovo on Euronext Paris. Cellnovo’s innovative solution combining e-health and a connected micro-pump for diabetes patients provides a glimpse into the future of healthcare. We are delighted that this innovative company, founded in the United Kingdom, turned to our markets to finance the next stage of its growth.
Cellnovo's listing highlights our ability to attract leading European life science companies to our market, the growing international reputation of our franchise and Euronext's continued momentum in the current market conditions.»