Innogenetics raises 34.5 million Euros in private
placement
Gent (Belgium) - March 24, 2005
Innogenetics, a Belgium-based international biopharmaceutical company
focused on specialty diagnostics and therapeutic vaccines, today announces
that it has raised €34,518,726.32 through the private placement
of 2,660,216 new shares with institutional investors at a price of €12.60
per share and through the placement of 69,784 new shares with one of
its reference shareholders, CRI BVBA at a price of €14.33 per share.
Subject to certain conditions that are standard for this type of
transaction, the shares will be issued and paid for on March 31, 2005.
Immediately thereafter, Innogenetics will apply for admission of the
new shares on Euronext Brussels.
The offer has been coordinated and managed by KBC Securities, lead
manager and sole bookrunner. The demand for new shares is oversubscribed.
Frank Morich, Chief Executive Officer of Innogenetics, commented:
“We are very pleased with the outcome of this successful placement,
thus confirming the trust of our shareholders and the financial community
in Innogenetics’ business model. The proceeds of this capital
raising will be instrumental in further strengthening our Specialty
Diagnostics business.”
About Innogenetics
Innogenetics is an international biopharmaceutical company building
parallel businesses in the areas of specialty diagnostics and therapeutic
vaccines. In 2004, total revenues increased to €71 million, with
a profitable Specialty Diagnostics Division. Its Diagnostics Division
develops a large number of specialty products covering three areas:
infectious diseases (hepatitis C, hepatitis B, and HIV), genetic testing
(HLA tissue typing and cystic fibrosis), and neurodegeneration (Alzheimer’s
disease). In its Therapeutics Division, Innogenetics focuses on the
development of therapeutic vaccines to address unmet medical needs
in the field of infectious diseases, with two compounds now in clinical
trials (hepatitis C in phase 2 and hepatitis B in phase 1). With a
strong commercially oriented management team and distinctive dual
business model, Innogenetics provides a low-risk biotech investment
with potentially high returns.
Founded in 1985, Innogenetics is listed on Euronext Brussels. Innogenetics’
headquarters are in Gent, Belgium, with sales affiliates in the United
States, Germany, France, Spain, and Italy. Innogenetics employs 590
people worldwide and has a market capitalization of approximately
€390 million.
KBC securities acted as Sole bookrunner. Code Securities acted as
Co-lead manager
