Context
Heidelberg Pharma is a German-listed company with a focus on oncology. It is the only company in the antibody-drug conjugate (ADC) space listed in Europe.
Heidelberg Pharma is developing ADCs based on the novel toxic payload Amanitin, through its proprietary Antibody Targeted Amanitin Conjugate technology (ATAC). This has a breakthrough mode of action: Amanitin kills both dividing and dormant tumor cells, potentially preventing cancer relapse. It has shown to be more effective in tumors with 17p deletion, a biomarker of disease severity that could help identify high-risk patients.
Heidelberg Pharma’s lead product HDP101 is about to start a Phase I/IIa clinical study. This is complemented by a proprietary preclinical product portfolio with different antibody backbones and by partnered products that are expected to generate short-term revenues.
The Follow-on Offering proceeds will be used to finance:
• Phase I/II trials for the HDP101 investigational therapy
• R&D and general & administrative expenses up to June 2022
• Finalizing the preclinical package and Good Manufacturing Practice (GMP) materials
• Investigational New Drug (IND) application filing for the HDP102 and HDP103 treatments in H1 2022.
About Heidelberg Pharma
Heidelberg Pharma AG is a biopharmaceutical company based in Ladenburg, Germany. It is an oncology specialist and the first company to develop the toxin Amanitin into cancer therapies. The proprietary technology platform is being applied to develop the company’s proprietary Antibody Targeted Amanitin Conjugate technology (ATAC) as well as in third-party collaborations. The proprietary lead candidate HDP-101 is a BCMA ATAC for multiple myeloma and will enter clinical development shortly. HDP-102, a CD37 ATAC for Non-Hodgkin’s lymphoma and HDP-103, a PSMA ATAC for metastatic castration-resistant prostate cancer, are in preclinical testing.
Bryan, Garnier & Co acts as Sole Global Coordinator and Sole Bookrunner on Heidelberg Pharma’s EUR 20 million Follow-on Offering
Bryan, Garnier & Co acted as Sole Global Coordinator and Sole Bookrunner on Heidelberg Pharma’s Follow-on Offering.
Heidelberg Pharma raised EUR 20m, with large orders coming from new Tier 1 long-only and European biotech specialists including Polar Capital and Invus, as well as long-term main shareholder dievini:
• Pricing at EUR 6.44, ie. 3.9% discount vs. closing price
• Positive aftermarket perf. in D+1: +11.8% vs. offer price.
Prior to the offering, Bryan, Garnier & Co supported Heidelberg Pharma through active research and coverage on ADCs and the company, and accompanied Heidelberg Pharma’s management on a virtual non-deal roadshow (NDR) with 40+ investors across Europe and the US, raising awareness of the company.
This is Bryan, Garnier & Co’s seventh European biotech capital raise in 2021 and first on Börse Frankfurt. This marks another landmark transaction that demonstrates Bryan, Garnier & Co’s unique ability to execute European Biotech transactions as Sole Global Coordinator.
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