Accelerated Bookbuild Offering

SEK 380 million
Joint Global Coordinator & Joint Bookrunner
;

Xbrane

Joint Global Coordinator and Joint Bookrunner

Kempen & Co is pleased to announce that it acted as Joint Global Coordinator and Joint Bookrunner in Xbrane’s SEK 380m Capital Increase

Transaction highlights

  • Directed Share Issue of 2,817,700 new shares at a subscription price of SEK 135 per share, generating gross proceeds of c. SEK 380m
  • Xbrane intends to use the net proceeds to finance market approval of Xlucane™ in the US and Europe, scale-up of Xcimzane™ production process to commercial scale and initiation of Phase I clinical trial, continued pre-clinical development of Xdivane™ and initiation of additional biosimilar development programs, and the remainder of the proceeds for general corporate purposes
  • Xbrane’s capital increase was upsized during bookbuilding to SEK 380m from originally SEK 350m at launch, representing an increase of the company’s share capital by 12.7%
  • The subscription price corresponds to a discount of approximately 8.5% in relation to the last closing price
  • So far in 2021, Kempen & Co has executed 18 transactions for European life sciences companies
     

Company description

Xbrane is a biopharmaceutical company that develops biosimilars based on a proprietary platform. Xbrane’s lead product - Xlucane - a biosimilar candidate to Lucentis®, addresses ophthalmic VEGFa inhibitor market. Marketing authorization and launch of Xlucane is expected for H2 2022. Xlucane is partnered with biosimilar specialist STADA and ophthalmology specialist Bausch+Lomb for commercialization. Xbrane's pre-clinical candidates include Xcimzane - biosimilar to Cimzia currently under development, and Xdivane - a biosimilar to Opdivo. Xbrane's ambition is to initiate one new biosimilar development program annually and become cash-flow positive by late 2023/early 2024

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:

  • 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 Molecular Partners’ USD 63.8 million Initial Public Offering on Nasdaq
  • 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 1.1 billion Capital Increase by Oncopeptides
  • Joint Global Coordinator and Joint Bookrunner in the SEK 962 million Capital Increase by BioInvent
  • Joint Global Coordinator and Joint Bookrunner in the €22.5 million Capital Increase by Sequana Medical
  • 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
  • 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 
  • Financial Adviser to DCprime in its merger with Immunicum 
  • Joint Bookrunner in the SEK 564 million Capital Increase by Cantargia
  • Sole Financial Adviser in the sale of Galapagos’ service operation, Fidelta, to Selvita for a total consideration of €31.2 million
  • Placement Agent in Investinor’s Secondary Sell-Down of c. 4 million shares in Calliditas Therapeutics
  • Lead Manager in the USD 95.1 million Nasdaq Initial Public Offering by Galecto
  • Joint Bookrunner in the €31.0 million Capital Increase by Sensorion
  • Bookrunner in the USD 245 million Nasdaq Initial Public Offering by CureVac
  • Co-Manager in the USD 49.0 million US Public Offering by Centogene
  • Joint Bookrunner in the SEK 1.11 billion Capital Increase by Hansa Biopharma
  • Joint Bookrunner in the CHF 80.2 million Capital Increase by Molecular Partners
  • Co-Manager in the USD 690 million US Public Offering by Ascendis Pharma
  • Financial advisor in Immatics’ business combination with Arya Sciences Acquisition Corp, thereby becoming a Nasdaq listed company and securing USD 253 million

Contact

Pieter van der Meijden
Robin van Wijk

Transactions