This announcement is not an offer to sell, or a solicitation of an offer to acquire any securities. This announcement is not a prospectus and investors should not purchase any securities referred to in this announcement except on the basis of information in the prospectus published by Probiodrug AG as approved by the competent German regulator Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) on 10 October 2014 and passported to the Dutch Authority for Financial Markets (Autoriteit Financiële Markten) in connection with the Initial Public Offering and admission to trading of its shares on Euronext Amsterdam.
HALLE/SAALE, Germany, October 23, 2014 – Probiodrug AG (“Probiodrug”), a biopharmaceutical company dedicated to the research and development of novel therapeutic solutions to treat people with Alzheimer’s Disease, announces the successful completion of its Initial Public Offering, which was launched on 10 October 2014 (the “IPO” or the “Offering”). Probiodrug’s shares will be listed on Euronext Amsterdam and begin trading on an “if-and-when- delivered” basis on Monday 27 October 2014 under the symbol “PBD”.
The Offering was priced at €15.25 per share (the “Offer Price”). In total, 1,524,205 shares are placed with investors (the “Offer Shares”) which includes 48,796 over-allotment shares. The gross proceeds from the Offering will be €22,499,987, with the net proceeds from the Offering amounting to approximately €20.2 million (in each case excluding any proceeds from the placement of the over-allotment shares). To the extent that the Greenshoe option will be exercised, which may be exercised within 35 days following commencement of trading, the Company will issue additional new shares at the Offer Price out of its authorized capital. If the Greenshoe option is exercised in full, the total number of new shares issued by the Company in the course of the Offering would be 1,524,205 and the total net proceeds would be approximately €20.9 million.
The order book has been built with high-quality demand from institutional investors in Europe and the United States of America, as well as demand from Dutch retail investors. In addition, existing shareholders of the Company purchased 1,031,454 Offer Shares for a total of approximately €15.7 million.
Kempen & Co acted as Sole Global Coordinator and Bookrunner, Petercam acted as Co-Bookrunner, and Close Brothers Seydler acted as Selling Agent.
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.”
For more information please contact:
Dr. Konrad Glund, CEO, Probiodrug Hume Brophy
Email: firstname.lastname@example.org Tel: +44 (204) 440-5653
Notes to Editors:
About Probiodrug AG
Headquartered in Halle, Germany, Probiodrug AG is a biopharmaceutical company focused on the development of new therapeutic products for the treatment of Alzheimer’s Disease.
Founded in 1997, the company successfully developed a novel therapeutic concept for diabetes – the DP4 inhibitors – which provided the basis for a novel class of antidiabetics – the gliptins. Its core capabilities are based on its long-standing expertise in the elucidation of the structure and function of enzymes involved in the modification of proteins and peptides which play a central role in pathological conditions.
Today 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 Disease patients. It has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting pyroglutamate-Abeta (pGlu-Abeta) as a therapeutic strategy to fight Alzheimer’s Disease. The Company has medical use and composition of matter patents related to the inhibition of QC and anti-pGlu-Abeta- specific monoclonal antibodies, providing it, in the Company’s view, with a leading position in this field of research.
About Alzheimer’s Disease
Alzheimer’s Disease is a neurological disorder, which is the most common form of dementia, and ultimately leads to death. Because Alzheimer’s Disease cannot be cured and is degenerative, the affected patients must increasingly rely on others for assistance. Today, over 35 million people worldwide live with the condition and this number is expected to double by 2030 and to more than triple by 2050 to 115 million (World Alzheimer Report 2013).
These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and dependencies, any State of the United States and the District of Columbia). These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities. The shares in Probiodrug AG (the “Shares”) mentioned herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Shares have not been, and will not be, registered under the Securities Act and will not be offered or sold in the United States, except on the basis of applicable exemptions from registration. There will be no public offering of securities in the United States or anywhere outside of The Netherlands. The public offer in The Netherlands was made exclusively by means of and on the basis of an English-language prospectus.