Healthcare

Bryan, Garnier & Co acts as Sole Global Coordinator and Sole Bookrunner on GeNeuro’s EUR 5m Follow-on Offering

GeNeuro is a clinical-stage biopharmaceutical company focused on interrupting the progression of neurodegenerative and autoimmune diseases such as multiple sclerosis, amyotrophic lateral sclerosis and long Covid.

The company’s most advanced therapeutic candidate, temelimab, is a humanized monoclonal antibody that neutralizes a pathogenic protein of the HERV-W family.

GeNeuro has completed Phase II clinical trials in multiple sclerosis and results of the Phase II trial in long COVID, supported by the Swiss Government and the European Investment Bank, are expected in June 2024.

Follow-on Offering proceeds will be mainly used to complete the financing of its Phase II clinical trial in long Covid and extend the company’s cash runway into early Q3 2024.

Acting as Sole Global Coordinator & Sole Bookrunner, Bryan, Garnier & Co helped to deliver a EUR 5m Follow-on Offering for GeNeuro.

GeNeuro raised EUR 5m from institutional biotech specialist investors across Europe, and from retail investors in France.

GeNeuro’s historical shareholders Institut Mérieux and Servier also participated in the offering for c.68% of the primary proceeds.

The pricing was set at EUR 1.05, representing a 16.7% discount to last close.

This also marks GeNeuro’ fifth consecutive financing transaction with Bryan, Garnier & Co since its IPO in 2016, raising circa EUR 70m in cumulated value and marking another landmark transaction for Bryan, Garnier & Co’s Healthcare and Equity Capital Markets franchises.

GeNeuro‘s mission is to leverage HERV biology to develop safe and effective treatments for the benefit of patients, by neutralizing causal factors encoded by HERVs that represent 8% of human DNA.
GeNeuro is based in Geneva, Switzerland and has R&D facilities in Lyon, France. It has rights to 17 patent families protecting its technology.