Initial Public Offering

€ 61.8 million
Joint Global Coordinator and Joint Bookrunner
;

Hyloris

Joint Global Coordinator and Joint Bookrunner

Kempen & Co is pleased to announce that it acted as Joint Global Coordinator and Joint Bookrunner in Hyloris Pharmaceuticals’ Initial Public Offering of €61.8 million

Transaction highlights

  • Initial Public Offering of 5,750,000 primary shares (excluding the Over-allotment Option in full) at a price of €10.75 per share, resulting in gross proceeds of 61.8m
  • The proceeds will be used to progress the development of the existing portfolio of product candidates, the establishment of a commercial team in the US and to fund the expansion of its product pipeline
  • Kempen & Co extensively marketed the transaction towards local and international, specialist and generalist institutional investors during investor education (PDIE) and bookbuilding
  • In addition, Van Lanschot Kempen’s Private Banking and Private Family Office marketed the transaction to their clients in Belgium and the Netherlands
  • The orderbook has been built with strong local support from investors who participated in the cross-over round as well as a mix of institutional investors across continental Europe, the UK and the US
  • The transaction attracted strong support from Belgian retail investors, which, were allocated c. 18.4% of the IPO, more than the legal minimum allocation of 10% as per Belgian law
  • Trading of Hyloris’ shares on the regulated market of Euronext Brussels under the symbol “HYL” commenced on 29 June 2020
  • Hyloris’ IPO is the first IPO on Euronext Brussels in 2020, and Kempen & Co's 8th overall transaction for European life sciences companies since the beginning of 2020. Year to date, Kempen has been involved in raising over €1.4bn for European Life Sciences and Healthcare companies

Company description

Based in Liège, Belgium, Hyloris is an early-stage innovative specialty pharmaceutical company focused on adding value to the healthcare system by reformulating well-known pharmaceuticals. Hyloris develops proprietary products it believes offer significant advantages compared to currently available alternatives, with the aim to address the underserved medical needs of patients, hospitals, physicians, payors and other stakeholders in the healthcare system. Hyloris’ portfolio spans three areas of focus: IV Cardiovascular, Other Reformulations and Established Market (high-barrier generics). Hyloris currently has two early commercial-stage products, Sotalol IV for the treatment of atrial fibrillation, commercialised through its partner AltaThera, and Maxigesic® IV, a non-opioid analgesic product for the treatment of pain, developed with the Company’s partner, AFT Pharmaceuticals. Additionally, Hyloris has 12 product candidates in various stages of development across the Company’s wider portfolio.

Background Kempen & Co Life Sciences & Healthcare

Over the past year, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:
  • Joint Bookrunner in the €20.0 million Capital Increase by Oryzon Genomics
  • Joint Global Coordinator and Joint Bookrunner in the SEK 487 million Capital Increase by BioInvent
  • Joint Global Coordinator and Joint Bookrunner in the c. SEK 400 million Capital Increase by Immunovia
  • Co-Manager in the USD 862 million Global Offering by argenx
  • Joint Bookrunner in the SEK 1,414 million Capital Increase by Oncopeptides
  • Co-Manager in the USD 154 million Global Offering of DBV Therapeutics
  • Joint Global Coordinator and Joint Bookrunner in the €19.0 million Capital Increase by Sequana Medical
  • Lead Manager in the USD 557 million Global Offering by argenx
  • Co-Manager in the USD 79.2 million US Public Offering by Merus
  • Co-Manager in the USD 57.5 million Capital Increase by ProQR
  • Co-Manager in the USD 150 million Nasdaq IPO of BioNTech
  • Sole Bookrunner in the €9.0 million Capital Increase by MDxHealth
  • Co-Manager in the USD 20.0 million Global Offering of Celyad
  • Co-Manager in the USD 582 million NASDAQ IPO of Genmab
  • Joint Bookrunner in the €116 million Secondary Sale of Fagron shares by Waterland and Baltisse
  • Joint Bookrunner in the €48.7 million Rights Issue by Transgene
  • Joint Bookrunner in the SEK 727 million Capital Increase by Oncopeptides

Contact

Jan De Kerpel
Thomas ten Hoedt

Transactions