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ODDO BHF accompanied the successful capital increase of Nanobiotix
ODDO BHF acted as Joint Bookrunner in the successful completion of the Dawn project, a capital increase for Nanobiotix allowing the company to raise €20m of new money.
The clinical-stage nanomedicine company pioneering new approaches to the treatment of cancer.intends to use the net proceeds from the capital increase to: (i) move forward with its lead program in head and neck cancers with the start of the global phase III that should lead to the US and EU registrations (ii) complete the escalation of the immune-oncology phase I basket-trial for NBTXR3 in combination with anti-PD-1 checkpoint inhibitors (pembrolizumab or nivolumab) in patients with locoregional recurrent or recurrent and metastatic head and neck squamous cell carcinoma or with lung or liver metastases from any primary cancer that is eligible for anti-PD-1 therapyand (iii) extend the company’s financial visibility.
Founded in 2003, NANOBIOTIX, is a France-based clinical-stage company pioneering nanomedicine. The Company has developed a proprietary nanotechnology based on the physical mode of action of nanoparticles which aims at extending the benefits of radiotherapy to cancer patients. Its lead product, NBTXR3, is designed to enhance the overall efficiency of the radiotherapy by locally amplifying intratumor cell killing effect of the radiation.
Market capitalization prior to announcement on July 27, 2020 amounted to c.€162m. The transaction was carried out through an Accelerated Book-Building, with price being set at €6.10 per share which represents a discount of 14% vs. last close.
With a very good dynamic in the construction of the book-building, the book was covered very quickly and the deal was largely oversubscribed.
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