The FINANCIAL -- Euronext on February 8 welcomed Lysogene, a company specialized in gene therapy targeting two rare diseases of the central nervous system, to Compartment C of its regulated market in Paris. Lysogene is the first biotechnology company to join the Paris market in 2017.
A pioneer in gene therapies, Lysogene is developing new drug candidates to treat two rare, devastating and fatal central nervous system disorders in children for which, to the best of the Company’s knowledge, no current treatment exists: Sanfilippo syndrome type A (MPS IIIA) and GM1 gangliosidosis (or Landing disease). The group’s aim is to develop and make available to young patients safe, innovative treatments that can correct the dysfunction of their defective gene, thus leading to radical improvements in quality of life for them and their family. Its aim is also to reduce the societal and financial impact of dealing with such diseases in the absence of a dedicated, safe and efficient therapy, according to Euronext.
Lysogene was listed through the admission to trading on February 8, 2017 of a total 12,078,704 shares, including 3,323,567 new shares issued through a Global Offering.
The offering price was set at €6.80 euros per share. Lysogene’s market capitalisation was approximately € 82.1 million on the day of listing, and the transaction raised a total of €22.6 million.
Lysogene joins the 45 biotechnology companies already listed on Euronext markets, which together represent a total capitalisation of €12 billion. In just a few years Euronext has become the European benchmark for life science businesses, and reinforces the segment’s visibility with its recently launched Baromètre Biotech.
At the listing ceremony, Karen Aiach, founder and CEO of Lysogene, said “Listing is a major step for Lysogene, and one that will help us continue to develop treatments for two devastating diseases creating multiple disabilities that begin in childhood and lead to the premature death of patients. We would like to extend our sincere thanks to the shareholders that have supported us along the way, including Sofinnova Partners, BpiFrance Investissement (InnoBio) and Novo A/S, as well as the new partners that have joined us today, including Financière Arbevel and Alto Invest.”