The FINANCIAL -- EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for small and medium-sized companies (SMEs), on July 13 welcomed GenSight Biologics, a biopharmaceutical specialist in gene therapy, for its first day of trading on compartment C of Euronext’s regulated market in Paris.
Founded in 2012, GenSight Biologics is an innovative young company dedicated to discovering and developing gene therapies for neurodegenerative retinal diseases and diseases of the central nervous system. Focusing initially on patients suffering from severe retinal diseases, GenSight Biologics’s current drug candidates are designed to offer patients sustainable functional visual recovery. The company’s stock market debut makes it the first listed gene therapy company in Europe.
GenSight Biologics was listed through the admission to trading on 13 July 2016 of 18,609,122 common shares, including 5,737,937 shares issued as part of a Global Offering, after the exercise of the over-allotment option, according to Euronext.
GenSight Biologics’ admission and issuing price was set at €8 per share. Market capitalisation on the day of listing was €149 million. Listing raised a total of €40 million.
“We are delighted to announce GenSight Biologics’s successful listing on Euronext Paris—a key stage in our company’s growth,” said Bernard Gilly, founder and CEO of GenSight Biologics . “It puts us on track for greater international recognition and continued development of our drug candidates for the treatment of serious neurodegenerative retinal diseases. This success is all the more satisfying in that, despite today’s difficult market environment, we have strengthened our ties with leading institutional investors in the United States and in Europe. I would like to take this opportunity to extend warm thanks to all of our shareholders—old and new, partners and employees—for their support and contribution to our successful listing.”