The FINANCIAL -- Euronext on April 15 celebrated the listing of GeNeuro, a biopharmaceutical company developing new treatments for autoimmune diseases including multiple sclerosis, in Compartment B of its regulated market in Paris.
Founded in 2006, GeNeuro has advanced rapidly over the past decade in the development of anew approach for treating autoimmune diseases, gaining the support of highly reputed pharmaceutical groups. The company is currently developing the first treatment that directly targets a potential cause of multiple sceloris (MS), a disease thataffects an estimated 2.5 million individuals worldwide and for which there is currently no treatment that significantlyslows the long term progression of disability. GeNeuro’s unique therapeutic approachhas the potential not only to slow or even halt the progression of multiple sclerosis, but also to tackle other autoimmune diseases, including CIDP (chronic inflammatory demyelinating polyneuropathy) – an orphan neurological disease – and type-1 diabetes.
GeNeuro (ticker symbol: GNRO) was listed through the admission to trading of 14,658,118 shares, including 2,538,500 new shares issued under a Global Offering, after the partial exercice of the extension option and before the over-allotment option, according to Euronext.
The admission price and issue price of GeNeuro was set at €13 per share. Market capitalisation on the day of listing was around €190 million, and the IPO raised a total of €33 million.
Jesús Martin-Garcia, Chairman and CEO of GeNeuro, said: “We are delighted to announce our successful IPO on Euronext's regulated market in Paris. The IPO will help GeNeuro step up its developments in multiple sclerosis along with its growth in Europe and the USA, but also in new autoimmune indications. GeNeuro is a Swiss company with a very strong presence in France, including Research and Development centres in Lyon and Savoie region. Listing on Euronext’s Paris market, which has in recent years become the leading European financial centre for biotechnology companies, was therefore the natural choice for our company.”