The FINANCIAL -- EnterNext, the Euronext subsidiary designed to promote and grow its market for SMEs, congratulated Crossject on its successful listing on Alternext in Paris, according to NYSE Euronext.
Dijon-based Crossject makes ZENEO, an innovative, patented medical device for self-injection of medications. The product of 12 years of R&D with leading European partners, ZENEO is unique in offering a needle-free, single-use, automatic, pre-filled device that improves patient safety and comfort. This new device is designed to gradually replace existing self-injection systems such as pen injectors and pre-filled syringes and open up new markets where no self-injection solutions are currently available, according to NYSE Euronext.
Crossject was listed through the admission to trading of 4,204,831 existing shares making up the company’s equity and the sale of 2,034,615 new shares issued under a Global Offering, including full exercise of the extension option and exercise of the over-allotment option. Total demand was €56.3 million, including a €40 million Global Placement and a €16.3 million Open Price Public Offering. The offer was oversubscribed 4.4 times, according to NYSE Euronext.
The admission and issue price of Crossject shares was set at €8.38 per share, at the high end of the indicative price range. The company’s market capitalisation stood at around €52.3 million on the issue date, and a total €17 million was raised altogether.
“I want to congratulate Crossject for its very successful listing on Alternext in Paris,” said Eric Forest, Chairman and CEO of EnterNext. “Crossject is an innovative company that has won over a broad range of investors, both institutions and individuals. At EnterNext, we are delighted to be part of the process as it moves into the market and in so doing help contribute its development,” he added.
“Our listing on Alternext is an important step for our company, and we would like to thank all our investors, old and new, for taking part. Its success means we are now in a position to take ZENEO® through the regulatory process for two indications with a view to putting it on the market at the end of 2015, and pursue business development at Crossject,” Patrick Alexandre, Crossject founder and head of its Executive Board said.