Secondary markets received a lot of attention in 2019. Read on to catch a few of the trends that characterised the second half of the year.
The high number of private placements made at the end of 2019, especially in the Brussels, Amsterdam and Oslo markets, indicates an increase in liquidity and visibility for the companies concerned. A few highlights can be made both on the SME and the large-cap fronts: Vivoryon (a precision intervention company focused on bringing first-in-class therapies to patients suffering from age-related diseases) made a strategic private placement of €41.8 million; and Kendrion (which develops, manufactures and markets worldwide high-quality electromagnetic and mechatronic solutions for industrial and automotive application) of €28.5 million, both through Euronext Amsterdam.
Brussels enjoyed some life sciences-oriented activity this past year with private placements and global offerings made by several notable companies. Some highlights: Argenx, a clinical-stage biotechnology company, raised €535 million through two separate private placements; Bone Therapeutics, a biotech developing innovative cell therapies for orthopaedic and bone-related illnesses, successfully raised €8.5 million; and Celyad, a triple-listed biotech focused on the development of CAR-T cell therapies, closed an €18.5 million global offering.
Dublin was not left behind! With strong private placements in the second half of the year from companies such as Irish Residential Properties REIT, a key player in the property rental scene, which raised over €134.15 million over the summer, and Amryt Pharma, a biotechnology firm committed to delivering safe, effective and innovative medicines that treat extremely rare and life-threatening diseases, which closed its private placement with €53.7 million raised.
France also saw Valbiotis, a young company specialised in the research & development of scientific innovation for preventing and combating metabolic diseases that had listed on the Euronext Growth market in 2017, raise nearly €7 million in the summer of 2019 through its current markets in Europe and northern America.
And one final interesting and noteworthy placement was that of Galapagos of €960 million following an equity investment by Gilead Sciences, furthering the strategic partnership between the two companies.
Intrigued by this med-tech giant? Why don’t you read on to the next article, all about Galapagos!