Initial Public Offering
MaaT Pharma
Joint Global Coordinator and Joint BookrunnerKempen & Co acted as Joint Global Coordinator and Joint Bookrunner in MaaT Pharma’s €31.5 million Initial Public Offering
Transaction highlights
- Initial Public Offering on the regulated market of Euronext Paris of 2,333,333 shares at a price of €13.50 per share, raising total gross proceeds of €31.5 million, which can increase to €36.2 million in case the over-allotment option is exercised in full
- The transaction represents the biggest Life Sciences IPO on Euronext Paris in 2021YTD
- Kempen & Co extensively marketed the transaction towards a large group of domestic as well as international specialist and generalist institutional investors in the various marketing phases of the IPO
- MaaT Pharma becomes the first publicly traded company developing microbiome-based drugs in continental Europe
- The proceeds will primarily be used to fund the Phase III clinical trial evaluating lead product candidate MaaT013 for the treatment of graft-versus-host disease (GvHD), the initiation of a Phase II/III of MaaT033, and preparatory work for the Phase I of MaaT03X as well as the manufacturing scale-up of MaaT013, MaaT033 and MaaT03X
- MaaT Pharma’s IPO marks the ninth Equity Capital Markets transaction on the regulated market of Euronext Paris in which Kempen & Co acted as an underwriter since 2015
- Trading of MaaT Pharma’s shares on the regulated market of Euronext Paris under the symbol “MAAT” started on 8 November 2021
- In 2021 year to date, Kempen & Co has executed 21 Equity Capital Markets transactions, totalling USD 2.3 billion, for European life sciences companies listed across Europe and in the US
Company description
MaaT Pharma is a clinical-stage company with a well-established approach to restoring patient-microbiome symbiosis to improve survival outcomes in oncology. Committed to treating cancer and graft-versus-host disease (GvHD), a serious complication of allogeneic stem cell transplantation, MaaT Pharma has already achieved proof of concept in acute myeloid leukemia patients and completed a Phase II clinical trial. Their discovery and analysis platform, gutPrint®, supports the development and expansion of the company’s pipeline by determining novel disease targets, evaluating drug candidates and identifying biomarkers for microbiome-related conditions. The company’s Microbiome Ecosystem Therapies are produced through a standardized cGMP manufacturing and quality control process to safely deliver the full diversity of the microbiome, in liquid and oral formulations. MaaT Pharma benefits from the commitment of world-leading scientists and established relationships with regulators to establish the utilization of microbiome treatment integration into clinical practice. The company is headquartered in Lyon, France.
Background Kempen & Co Life Sciences & Healthcare
In the last twelve months, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:
- Co-Manager in the USD 460 million Capital Increase by Ascendis Pharma
- Joint Bookrunner in the SEK 324 million Capital Increase by Calliditas Therapeutics
- Joint Global Coordinator & Joint Bookrunner in the SEK 380 million Capital Increase by Xbrane Biopharma
- Joint Global Coordinator in the €34.1m Capital Increase by Transgene
- Joint Global Coordinator & Joint Bookrunner in the SEK 141 million Capital Increase by Immunicum
- Lead Manager in the USD 63.8 million Nasdaq Initial Public Offering by Molecular Partners
- Joint Bookrunner in the SEK 301 million Capital Increase by Q-linea
- Co-Manager in the USD 176 million Nasdaq Initial Public Offering by Achilles Therapeutics
- Joint Bookrunner in the €30.0 million Capital Increase by GenSight Biologics
- Lead Manager in the USD 101 million Nasdaq Initial Public Offering by LAVA Therapeutics
- Joint Bookrunner in the USD 120 million Nasdaq Initial Public Offering by European Biotech Acquisition Corp (EBAC)
- Joint Bookrunner in the SEK 1.11 billion Capital Increase by Oncopeptides
- Joint Global Coordinator and Joint Bookrunner in the SEK 962 million Capital Increase by BioInvent
- Co-Manager in the USD 115 million US Public Offering by Y-mAbs Therapeutics
- Co-Manager in the USD 115 million US Public Offering by Autolus Therapeutics
- Joint Global Coordinator and Joint Bookrunner in the €22.5 million Capital Increase by Sequana Medical
- Co-Manager in the USD 190 million Nasdaq Initial Public Offering by Pharvaris
- Bookrunner in the USD 518 million US Public Offering by CureVac
- Lead Manager in the USD 120 million US Public Offering by Merus
- Sole Financial Adviser in the sale of Galapagos’ service operation, Fidelta, to Selvita for a total consideration of €31.2 million
- Joint Bookrunner in the SEK 564 million Capital Increase by Cantargia
- Financial Adviser to DCprime in its merger with Immunicum
- Placement Agent in Investinor’s Secondary Sell-Down of c. 4 million shares in Calliditas Therapeutics
Contact
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Transactions
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Initial Public Offering on Nasdaq
Initial Public Offering
US Public Offering
Placing
Capital Increase
US Public Offering
Sale to
Portfolio company of
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Mandatory Convertible Bond Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Capital increase
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
on Nasdaq
Initial Public Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Capital increase
Private Placement
US Public Offering
Initial Public Offering
US Public Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
Debt financing
US Public Offering
US Public Offering
Green Revolving Credit Facility
Sale to
Combination with
Accelerated Bookbuild Offering
Sale to
Accelerated Bookbuild Offering
Non-listed equity capital raising
Sale of majority stake to
Secondary Sell-Down in Calliditas Therapeutics
Capital increase
Initial Public Offering
Capital Increase 
European FinTech
IPO
Accelerated Bookbuild Offering
Private Placement of shares in
Bridge financing
Undisclosed
Initial Public Offering
Rights issue
Accelerated Bookbuild Offering
US Public Offering
Accelerated Bookbuild Offering
US Public Offering
Merger with Arya Sciences Acquisition Corp. and subsequent Nasdaq listing
acquisition of
Initial Public Offering
Private Placement
Private Placement
Accelerated Bookbuild Offering
Global Accelerated Bookbuild Offering
Accelerated bookbuild offering
Sale of 456 unit landmark residential project in prime location The Hague
acquired by
public offer for
Sale and capital increase
and
Sale of Dutch residential development to
Global Offering
Accelerated Bookbuild Offering
Public takeover of
Sale of
to
Accelerated Bookbuild Offering
Capital increase
Global offering
Rights issue
Initial Public Offering on NASDAQ
Secondary placing of Fagron shares
Rights issue
a subsidiary of
Sale of German DIY portfolio to REDOS acting on behalf of Union Investment
Accelerated bookbuild offering
Accelerated Bookbuild Offering on behalf of selling shareholders in
Three-day bookbuild offering
Rights issue
Acquisition of
Initial Public Offering
Accelerated Bookbuild Offering
Block trade in argenx shares
a subsidiary of
Sale of German retail portfolio to a real estate private equity firm
Sale of Dutch residential portfolio managed by
on behalf of investors to
Sale of
to
Bencis Capital Partners
Increase of stake in
Initial Public Offering
Acquisition of
Acquisition of
Acquisition of
Capital increase
Block trade in ERYTECH shares
Initial public offering
Accelerated bookbuild offering
Initial public offering
Acquisition of
Block trade in Boskalis shares
US public offering
US public offering
Sale to
US public offering
Sale of Rabo Bouwfonds CIF datacenter portfolio
to
Initial public offering
Acquisition of former Delta Lloyd portfolio from
Rights issue
Public offer for
Fundraise
Accelerated bookbuild offering
Public offer by German ADLER Real Estate
for Israeli
Public offer by German Vonovia
Sale of Dynamic Portfolios
Public offer by Spanish Colonial
for Spanish Axiare Real Estate
Accelerated bookbuild offering
Sale of 3 German residential portfolios by
to consortium of buyers
Accelerated bookbuild offering
US public offering
Accelerated bookbuild offering
Secondary offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Acquisition by
of
Acquisition of
by
Private placement
Acquisition by
of
Dutch wealth management activities
Acquisition by
of
from
Accelerated bookbuild offering
Initial public offering on NASDAQ
Share buy-back program
Acquisition by
of
Accelerated bookbuild offering
Secondary placement of 9.4% stake in
Public offer by
for
Public offer by German Vonovia
For Austrian Conwert
Secondary placement of 15% stake in
Formation of Passoã joint venture with
Accelerated bookbuild offering
Rights issue
Sale of 19% stake in
Accelerated bookbuild offering
Acquisition of the North American rights to RUCONEST by
from
Acquisition by
of
from
Strategic study
Secondary placement 30% stake in
Share buy-back program
Direct share placement
Private placement
Strategic study
Sale of the European veterinary business of
to
Strategic study
Private placement
Placement of treasury shares
Public offer for Deutsche Office
By German Alstria
Public offer for
Initial public offering
Rights issue
Rights issue
Initial public offering
Rights issue
Sale of
to
Residential portfolio sale by Dekor
A company owned by Reggeborgh
Rights issue
Accelerated bookbuild offering
Secondary placement of 35% stake in IOW
Accelerated bookbuild offering
Refinancing
Rights issue
Refinancing
Capital Raise
Initial public offering
Acquisition by
of
Refinancing
Initial Public Offering
Initial public offering
Rights issue
On behalf of
Acquisition of
Rights issue
Acquisition of French shopping centre portfolio by Wereldhave
From French-Dutch Unibail-Rodamco
Refinancing
Acquisition of the cancer immunotherapy program by
from
Initial public offering
Initial public offering
Public offer by French Groupe SMABTP
For French Société de la Tour Eiffel
Acquisition of
by
Secondary listing on Euronext Paris
Initial public offering
Acquisition by
of
Accelerated bookbuild offering
Convertible bond issue
Fairness opinion in the public offer by
Sale of Hercules business to ZEG
Refinancing
Convertible bond issue
Initial public offering
Sale of Dutch supply assets to
Accelerated bookbuild, preference shares issue and refinancing
Acquisition of
by
undisclosed PE firm
from
At-market rights issue
Acquisition by
of
Accelerated bookbuild offering
Private placement by acquisition vehicle for French Carrefour
Secondary offering
Combined offering of primary and secondary shares
Public offer for German listed GSW
by German listed
Initial Public Offering
Equity issue
Refinancing
Sale of majority of shares to
Accelerated bookbuild offering
Initial public offering
Secondary offering
Accelerated bookbuild offering
Public offer by
for
Private placement
Public offer by
for
Rights issue