Market capitalization of € 102.4 million
Amsterdam – 27 October 2014 – Today Euronext welcomes Probiodrug AG, a biopharmaceutical company headquartered in Germany, on its regulated market in Amsterdam (ticker symbol: PBD, ISIN: DE0007921835).
Probiodrug AG is a biopharmaceutical company focusing on the research and development of new therapeutic products for the treatment of Alzheimer’s Disease. Probiodrug’s aim is to become a leading company in the development of Alzheimer’s Disease treatments and to thereby provide a better life for Alzheimer’s patients.
Probiodrug was listed through the admission to trading of 5,241,693 existing shares and 1,475,409 new public shares on Euronext Amsterdam. The admission and issue price of Probiodrug was set at € 15.25 per share. Market capitalisation was € 102.4 million on the day of listing. The offering raised € 22.5 million altogether.
Dr. Konrad Glund, Chief Executive Officer of Probiodrug said: “Probiodrug’s listing on Euronext is a very important landmark for the company as we look to develop innovative therapeutics to treat people with Alzheimer’s Disease. The €22.5 million fund raising will enable us to advance the clinical development of our lead product candidate PQ912 in early Alzheimer’s patients and support the further development of our other product candidates PBD-C06 and PQ1565.
“Alzheimer’s Disease is a large underserved market open for new drug approaches. We believe our differentiated approach presents a significant opportunity for patients, and will also generate significant value for our shareholders. We would like to welcome our new investors and look forward on our progress as we continue to grow the company.”
Jos Dijsselhof, acting CEO of Euronext Amsterdam said: “On Euronext, we have already a strong presence of life sciences companies and Probiodrug is a great addition to our market. This IPO and listing demonstrates the attractiveness of public equity markets as a source of financing for SME to help them achieve the next stage in their development. Our EnterNext initiative in particular is designed to promote capital markets to SMEs and help them achieve access to the capital markets.”
“We are delighted to welcome Probiodrug AG on Euronext Amsterdam. Capital markets funding will contribute to the company’s continued development of an innovative approach to treating Alzheimer’s.
Probiodrug AG’s choice of listing venue, reinforces Euronext’s position as the leading European stock exchange for life science companies, on which 36 IPOs, representing over 50% of all European life science IPOs, have been executed since 2010. The international IPOs of Mainstay Medical PLC and Probiodrug AG in 2014 demonstrate the attraction of Euronext to a broad set of life science issuers,” said Albert Ganyushin, Head of International Listings at Euronext.
To mark the listing, Dr. Konrad Glund, Chief Executive Officer of Probiodrug AG, sounded the gong in Amsterdam to open the financial market, accompanied by Probiodrug’s Management, Board Members, investors, advisers and the listing team of Euronext.