Paris, 29 April 2013 – NYSE Euronext (NYX) today announced the listing on NYSE Alternext in Paris of SpineGuard, a cutting-edge company that designs, develops and markets disposable medical devices intended to make spine surgery safer. The transaction illustrates the uptick in listings on the Paris market, with three more scheduled on NYSE Euronext by 7 May 2013.
Founded in 2009, SpineGuard aims to establish PediGuard® as the global standard of care for safer pedicle screw placement during spine surgery, benefiting patients, surgeons, operating room staff and healthcare providers. Several key clinical studies have established the reliability and accuracy of this technology for pedicle screw placement, demonstrating significantly less radiation exposure of medical teams and shorter surgery time when PediGuard® is used. The Pediguard® platform is protected by eight international patent families, approved and sold in 45 countries, CE Marked in Europe, and has received 510(k) clearance from the FDA in the United States. Over 25,000 surgical procedures have been performed worldwide using PediGuard®. The company was awarded “innovative business” status by Oséo in 2009.
SpineGuard (ticker: ALSGD) was listed through admission to trading of 3,200,000 existing shares and 1,111,112 new shares issued under a Global Offering . The Global Offering raised a total of €8.1 million.
The admission and issue price of SpineGuard was set at €7.29 per share. Market capitalisation stood at around €31.4 million on the day of listing.
Dominique Cerutti, President and Deputy CEO of NYSE Euronext, said: “We welcome the listing of SpineGuard, a young startup, on NYSE Alternext. This transaction confirms an uptick in IPO activity and renewed investor confidence in the primary market, with several more listings of small and medium-sized companies in the pipeline in France for the first half of 2013. Today SMEs are—more than ever—at the heart of our business and the centre of our strategy.”
“We are very happy to welcome SpineGuard to NYSE Alternext, a market designed to accelerate business development and raise the profile of fast-growing companies,” said Marc Lefèvre, Head of European Business Development and Client Coverage, Listings Europe, at NYSE Euronext.
Spineguard’s co-founder and Chief Executive Officer Pierre Jérôme commented: “We are delighted with our successful listing on Alternext, which represents a major step for our company. The funds raised will accelerate SpineGuard’s commercial expansion and help make the PediGuard® technology a global standard of care”.
In eight years, €2.8 billion has been raised on NYSE Alternext, half through secondary issues, by companies from countries including Belgium, Canada, China, France, Italy, Luxembourg, the Netherlands, Spain, the UK and the US. Their market capitalisation totals over €6 billion. Today 180 companies are listed on NYSE Alternext.