Germany's Probiodrug prices Amsterdam listing at up to 32 mln euros

Vivoryon Therapeutics NV

11/10/2014 13:16

BERLIN, Oct 11 (Reuters) - German biotech company Probiodrug 
 IPO-PROB.AS , a developer of treatments for Alzheimer's 
disease, aims to raise up to 32 million euros ($40 million) with 
its proposed listing on the Euronext exchange in Amsterdam. 
    Despite faltering investor appetite for recent listings in 
other sectors, Probiodrug is banking on continued strong 
interest in biotech and announced late on Friday that it will 
offer up to 1.7 million new shares at an indicative price range 
of between 15.25 euros and 19 euros per share.    
 ID:nL6N0RQ11L  ID:nL6N0S42UR  
    Probiodrug is working on drugs to slow or halt the 
progression of Alzheimer's, as opposed to available treatments 
that mainly address the symptoms of cognitive decline. 
    The company said the offering will run from Oct. 13 until 
Oct. 23, with its market debut on or around Oct. 27.  
    Existing shareholders, including Edmond de Rothschild 
Investment Partners, BB Biotech  BION.S  and Biogen Idec 
 BIIB.O , have committed to invest a combined total of about 15 
million euros, the company said.  
    Kempen & Co is acting as sole global coordinator and 
bookrunner while Petercam has been appointed as co-bookrunner 
and Close Brothers Seydler Bank as selling agent. 
(1 US dollar = 0.7920 euro) 
 
 (Reporting by Victoria Bryan; Editing by David Goodman) 
 ((victoria.bryan@thomsonreuters.com; +49 30 2888 5169; Reuters 
Messaging: victoria.bryan.thomsonreuters.com@reuters.net 
Twitter:@vl_bryan)) 
 
Keywords: PROBIODRUG IPO/