Accelerated Bookbuild Offering

SEK 170 million
Joint Global Coordinator & Joint Bookrunner
;

Xbrane

Joint Global Coordinator & Joint Bookrunner

Kempen & Co Deal Alert | Joint Global Coordinator and Joint Bookrunner in Xbrane’s SEK 170m Capital Increase

Transaction highlights

  • Directed Share Issue of 2,361,112 new shares at a subscription price of SEK 72 per share, generating gross proceeds of c. SEK 170m
  • Xbrane’s capital increase was upsized during bookbuild to SEK 170m from originally SEK 150m at launch on the back of strong demand from existing investors and new European and US investors
  • Shares were offered at SEK 72 per new ordinary share, representing a discount of 10% vis-à-vis the closing price prior to the transaction announcement on 18 October 2022
  • Xbrane intends to use the proceeds to finance the preparations for commercialisation in Europe and the continued development of preclinical programs
  • This transaction marks our second transaction for Xbrane, underpinning our commitment to existing clients and successfully supporting them in broadening their shareholder base internationally, outside the Nordics, despite challenging markets

Company description

Xbrane is a Swedish biosimilar developer with a proprietary manufacturing platform. Xbrane has a portfolio of biosimilar candidates targeting EUR 53 billion in estimated annual peak sales of the respective reference products. Lead candidate Ximluci®, a biosimilar candidate to VEGF inhibitor Lucentis®, is under registration in Europe with a planned launch with STADA during the first quarter of 2023 and an envisaged US launch with BAUSCH + Lomb for the end of 2023

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-Lead Manager in the DKK 786 million Capital Increase by Zealand Pharma
  • Financial Advisor in the sale of Sanquin Reagents by Sanquin Health Solutions to Gilde Healthcare
  • Financial Advisor in the up to SEK 250 million (convertible) debt financing by Mendus
  • Joint Global Coordinator in the SEK 299 million Directed Share Issue by BioInvent
  • Sole Global Coordinator in the SEK 200m financing consisting of a SEK 150m PIPE and a SEK 50m Fully Guaranteed Rights Issue by Abliva
  • Joint Global Coordinator & Joint Bookrunner in the SEK 150 million Fully Guaranteed Rights Issue by SynAct Pharma
  • Financial adviser in the spin-out and capital increase of InnoSIGN
  • Co-Manager in the USD 806 million Capital Increase by argenx
  • Sole Block Placing Agent in the placement of 1.4m Molecular Partners shares
  • Joint Bookrunner in the USD 127 million Nasdaq IPO of Forbion European Acquisition Corp
  • Co-Lead Manager in the USD 115 million Nasdaq IPO by IO Biotech
  • Lead manager in the USD 127 million Global Offering of Merus
  • Joint Global Coordinator and Joint Bookrunner in the €35.7 million Euronext IPO by MaaT Pharma

Contact

Pieter van der Meijden
Robin van Wijk

Transactions