US public offering
argenx
Co-managerKempen is pleased to announce that it acted as Co-Manager to argenx in its USD 301 million public offering
Transaction highlights
- The transaction comprised of 3,475,000 American Depositary Shares (ADSs) at a price of USD 86,50 per ADS. Each ADS represents the right to receive one ordinary share
- Gross proceeds amount to USD 301 million and will be used to, amongst others, fund the late stage clinical and commercial development of efgartigimod (ARGX-113) for the treatment of MG and ITP, start a Phase 2 clinical trial with efgartigimod in CIDP and advance the development of ARGX-117
- Gross proceeds could grow to c.USD 346m in case the option to purchase additional ADSs is exercised in full
- Kempen generated significant interest from US and European Life Sciences specialists, on top of European tier 1 generalist long-only investors which generated substantial demand in the bookbuilding exercise
- This is the second US offering in which Kempen acted as an underwriter after obtaining the license to do so less than two months ago, marking Kempen’s nineth Life Sciences transaction this year and the third US Life Sciences ECM transaction in little more than a week
- Kempen acted as Joint Global Coordinator and Joint Bookrunner in argenx’ IPO on Euronext in 2014 and has advised argenx on its NASDAQ IPO in May 2017 as well as subsequent US public offering in December 2017. Next to that, Kempen has been the number one broker in the stock ever since the 2014 IPO
Company description
argenx is a clinical stage biotechnology company, that develops a deep pipeline of differentiated antibody-based therapeutics for the treatment of severe autoimmune diseases and cancer. It discovers and develops
antibodies through its SIMPLE Antibody™ Platform based on the llama immune system and its three proprietary antibody engineering technologies. argenx’ lead product candidates include efgartigimod (ARGX-113), wich has shown positive Phase 2 proof of concept data for the treatment of autoimmune diseases myasthenia gravis (MG) and immune thrombocytopenia (ITP) and is also in Phase 2 development for autoimmune disease pemphigus vulgaris; and ARGX-110, currently in Phase 1/2 clinical trials for the treatment of hematological cancers, such as T-cell lymphoma and acute myeloid leukemia. Also ARGX-110 has recently shown encouraging safety and efficacy data during an interim analysis of its Phase 1/2 trial. argenx was founded in 2008 and is listed on Euronext Brussels since 2014 and on NASDAQ since May 2017.
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