Context
GeNeuro is a clinical-stage biopharmaceutical company focused on understanding and neutralizing the causative factors at work in the progression of neurodegenerative and autoimmune diseases
The company's most advanced therapeutic candidate, temelimab, is a humanized monoclonal antibody that neutralizes a pathogenic protein of the HERV-W (W-ENV) family identified as a potential causative factor in multiple sclerosis (MS) and post-COVID neurological and psychiatric symptoms affecting COVID-19 patients many months after initial infection with SARS-CoV-2
The company has completed Phase II clinical trials in MS and is preparing the launch of a biomarker-based Phase II clinical trial in post-COVID, co-funded by the Swiss government
Follow-on Offering proceeds will be mainly used to unlock and complement the grant financing procured from the Swiss Federal Office of Public Health (FOPH) of EUR 6.4m (of which EUR 3.0 m has already been received), allowing the launch of Phase II clinical trial in post-COVID, on patients that are affected by severe neuropsychiatric syndromes and are tested positive for W-ENV
About GeNeuro
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
Bryan, Garnier & Co acts as Sole Global Coordinator & Sole Bookrunner on GeNeuro EUR 7.7 million Follow-On Offering
Acting as Sole Global Coordinator & Sole Bookrunner, Bryan Garnier & Co helped to deliver a EUR 7.7m Follow-on Offering for Geneuro. This is the fourth time GeNeuro relies on Bryan Garnier’s services for a capital raise, showcasing a full-service relationship with Research coverage and Corporate Advisory
GeNeuro raised EUR 7.7m from Tier-1 European and US biotech specialists and institutional investors, and from its historical shareholder Institut Mérieux
The pricing was set at EUR 2.86 (representing a 7% discount to last close)
After being the most active ECM house for european healthcare issuances in 2021 and pricing the first Euronext Paris biotech IPO in 2022, this is Bryan Garnier & Co’s 2nd European Healthcare capital increase in 2022, demonstrating the firm’s unique ability to raise capital for European healthcare companies even in the midst of tumultuous market conditions
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