Acacia Pharma lists on Euronext Brussels

Acacia Pharma lists on Euronext Brussels

The FINANCIAL -- Euronext on March 5 celebrated the listing of Acacia Pharma, a UK-based hospital pharmaceutical company on its Brussels market (Compartment B).

This operation demonstrates the benefits offered by Euronext’s European Tech SME initiative as well as the attractiveness of Euronext as the leading venue for Biotech and Pharma companies in Europe. With this operation, Acacia Pharma joins a large franchise of 89 Life Science companies (52 Biotech and 37 Medtech companies) currently listed on Euronext’s markets, representing a total market capitalisation of €23.6 billion.

Acacia Pharma is focused on the development and commercialisation of new nausea and vomiting treatments for surgical and cancer patients. It has identified important unmet needs in nausea & vomiting and has discovered two product candidates based on the same active ingredient, amisulpride, to meet those needs.

The Group’s lead project, BAREMSIS for post-operative nausea & vomiting (PONV), has generated positive results in four Phase 3 clinical studies and an NDA has been accepted for filing by the US FDA for marketing approval with a target review date of 5 October 2018. BAREMSIS has the potential to become an important new option for the 16 million surgical patients in the US annually who suffer PONV despite having received prior prophylaxis with standard antiemetics, and in preventing PONV in combination with standard antiemetics in the 18 million patients in the US annually who are at high risk of developing it.

The company’s sister project, APD403 for chemotherapy induced nausea & vomiting (CINV) has successfully completed one proof-of-concept and one Phase 2 dose-ranging study in patients receiving highly emetogenic chemotherapy, according to Euronext.

The proceeds of the Global Offer are expected to allow Acacia Pharma to build the sales and marketing infrastructure and undertake marketing, supply chain and other preparatory activities ready to launch BAREMSIS for the treatment and prevention of PONV, to the hospital market in early 2019 (assuming approval in late 2018). Additionally, the proceeds will be applied to continue the development of APD403for the management of CINV.

With the Offer Price at €3,60 per share, Acacia Pharma’s total offering size amounts to approximately €40 million. With a total of 52,919,061 million shares admitted to trading, Acacia Pharma (ticker: ACPH) has an initial market capitalisation before opening of approximately €190 million.

Dr Julian Gilbert, CEO and founder of Acacia Pharma, said: “The successful completion of our Initial Global Offering is a significant milestone for Acacia Pharma. The new funds provide us with a strong basis from which to build a successful US hospital-focused pharmaceutical business around our two late-stage products, BAREMSIS and APD403, and their potential to improve the lives of millions of patients undergoing surgery or cancer therapy. We are very pleased that our business plan has resonated, and as a result we have added many high-quality investors in the UK, Europe and the US to our shareholder base. Through the successful Global Offer and new listing on Euronext, we believe that Acacia Pharma is now well-positioned to deliver its plans and look forward to the next phase in the company’s development.”

Bank Degroof Petercam NV/SA and RBC Europe Limited acted as Joint Global Coordinators and Joint Bookrunners in connection with the Global Offer. Bank Degroof Petercam NV/SA acts as Stabilisation Manager on behalf of the Joint Global Coordinators.

To celebrate Acacia Pharma’s first day of conditional trading , Dr Julian Gilbert, CEO and founder of Acacia Pharma, rang the bell to open the markets at Euronext Brussels.