Hyloris Pharmaceuticals an early-stage innovative specialty pharmaceutical company focused on adding value to the healthcare system by reformulating well-known pharmaceuticals.
They have announced the results of its initial public offering (IPO) of new shares, with the admission of all of its shares to trading on the regulated market of Euronext Brussels under the symbol “HYL”, launched on 17 June 2020, the “Offering.”
The final offer price for the Offering has been set at €10.75 per share, giving the Company an initial market capitalization of approximately €253.18m, or approximately €262.45m, assuming the exercise in full of the Over-allotment Option (defined below). Gross proceeds for the Company from the Offering amounted to approximately €61.81m, or approximately €71.08m, assuming the exercise in full of the Over-allotment Option.
The orderbook has been built with strong support from high-quality long-term specialist and Belgian retail investors, as well as interest from a mix of institutional investors across continental Europe, the UK and the US.
Stijn Van Rompay, Chief Executive Officer and co-founder of Hyloris Pharmaceuticals said, “We are delighted to have successfully completed our IPO, an important step for the Company as we seek to bring to the market reformulated drugs with added value to the healthcare system as quickly as possible.
“This significant raise will support Hyloris’ strategy and will be used for the development of our existing portfolio of product candidates, the establishment of a commercial team in the United States for our IV Cardiovascular portfolio, to fund the expansion of the pipeline both internally and through business development opportunities, as well as for general corporate purposes.
“I’m pleased and proud that we have been able to secure investment from high-quality institutions within the EEA and the US as well as broad support from retail investors across Belgium.”