Bryan, Garnier & Co acts as Sole Bookrunner on ASIT biotech €12 million Convertible Bond Placement

Bryan, Garnier & Co acts as Sole Bookrunner on ASIT biotech €12 million Convertible Bond Placement

News published on July Wednesday 11, 2018
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Context

Founded in 1997 in Brussels, ASIT biotech is a clinical stage biopharmaceutical company focused on the development and future commercialization of effective immunotherapy drugs for the treatment of allergies through its ASIT+™ technology platform.

One billion people worldwide currently suffer from an allergy, and this could rise to over four billion patients who could be affected by 2050, offering huge market potential for this innovative company.

Currently testing products to help treat allergies against grass pollen (Phase III trial stage), the house dust mite and peanut allergies (respectively in Phase I and Phase II trials).

In order to continue research and development for new drugs as well as for corporate development, ASIT biotech required additional financing to fund an additional Phase III for its lead product in grass pollen and for its Phase I and Phase II trials for house dust mite allergy and for food allergies (peanut, cows milk…).

Transaction highlights

Bryan, Garnier & Co acted as Sole Bookrunner for this oversubscribed offering.

A total amount of €12 million in committed capital was subscribed during the offering by institutional and private investors.

The flexible convertible bond product allowed for immediate conversion into ordinary shares and/or differed investments, insuring a continuous financing of the company.

ASIT biotech stock was suspended during the bookbuilding process that started on July 10 post-market and ended on July 11 mid-afternoon.

Convertible bonds and/or new ordinary shares were issued at a 8% discount to the 1-Day VWAP of July 9th.

This transaction marks the third transaction in Convertible Bonds for Bryan, Garnier & Co in 2018 after Bone Therapeutics EUR 19.45 million and Canopy Growth CAD 600 million Convertible Bonds issue, respectively in March and June 2018.

About ASIT Biotech

 ASIT biotech is a Belgian clinical stage biopharmaceutical company focused on the development and future commercialization of a range of breakthrough immunotherapy products for the treatment of allergies. Thanks to its innovative ASIT+™ technology platform, ASIT biotech is currently the only developer of allergy immunotherapy (AIT) product candidates consisting of a unique mixture of highly purified natural allergen fragments in an optimal size selection. This innovation results in a short treatment, expected to improve patient compliance and real-life effectiveness. The Company believes that its innovative ASIT+™ platform is flexible and would be applicable across a range of allergies. ASIT biotech has a headcount of 26 staff members at its headquarters in Brussels and a laboratory in Liège, Belgium.

(www.asitbiotech.com)

About Bryan, Garnier & Co

Bryan, Garnier & Co is a European, full service growth-focused independent investment banking partnership founded in 1996. The firm provides equity research, sales and trading, private and public capital raising as well as M&A services to growth companies and their investors. It focuses on key growth sectors of the economy including Technology, Media & Telecoms, Healthcare, Smart Industries & Energy, Consumer, Brands & Retail and Business Services. Bryan, Garnier & Co is a fully registered broker dealer authorized and regulated by the FCA in Europe and the FINRA in the U.S. Bryan, Garnier & Co is headquartered in London, with additional offices in Paris, Munich, Zurich and New York. The firm is a member of the London Stock Exchange and Euronext.

(www.bryangarnier.com)

Deal team

Olivier Garnier
Managing Partner
T: +33 1 56 68 75 29

Hervé Ronin
Parnter
T: +33 1 70 36 57 22

Jean de Pracomtal
Vice President
T: +33 1 56 68 75 38


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