Allosteric modulation company Addex Therapeutics Ltd announced that it has launched a CHF 40 m capital increase with commitments in place from several world-leading healthcare investors, comprising specialist U.S. Growth Equity Opportunities Fund IV, LLC and New Leaf Biopharma Opportunities I, L.P.
The proceeds will enable Addex to extend cash runway through 2022 and advance its portfolio of drug candidates, including registration studies for lead program, dipraglurant, for levodopa-induced dyskinesia associated with Parkinson’s disease (PD-LID).
The up to 12,779,553 new registered shares will be issued out of the company’s ordinary share capital at an issue price of CHF 3.13 and be listed and traded on the SIX Swiss Exchange. Each new registered share will further receive a 7-year warrant to purchase 0.45 of a share at a purchase price of CHF 3.43.
Homburger has advised Addex in this private investment in public equity (PIPE) transaction with a team led by partner Frank Gerhard (Corporate | M&A, in picture) and includes partner Stefan Oesterhelt (Tax) as well as associates Karin Mattle and Marie Jenny (both Corporate | M&A).
Law Firms: Homburger;
Clients: Addex Therapeutics Ltd;