Danish biopharmaceutical company TopoTarget A/S successfully listed on
Munich – The researched-based biopharmaceutical company TopoTarget A/S, headquartered in Copenhagen and a portfolio company of DVC Deutsche Venture Capital, has successfully completed its IPO on the Copenhagen Stock Exchange on June 10th, 2005. TopoTarget is the first biotechnology company to list on the Danish stock exchange since 2001. The offering of shares in the company met with substantial interest among Danish and international investors, leading the offer to being more than six times over-subscribed. 11.5 million shares were issued at 22.50 DKK (3.02 Euro) per share raising gross proceeds of 258.75 million DKK (34.74 million Euro). TopoTarget shares will trade under the ticker symbol TOPO.
Dr. Jörg Neermann, Managing Partner at DVC, remarked: „The successful initial public offering on the Copenhagen Stock Exchange outlines the significant market potential of TopoTarget and enables the company to consequently advance its promising product portfolio as well as establishing a European sales organization.” For DVC’s life sciences portfolio TopoTarget was the third successful IPO within one year following Epigenomics AG (Frankfurt Stock Exchange, July 2004) and Ardana plc (London Stock Exchange, March 2005).
TopoTarget is focused on the discovery and development of small molecule drugs for cancer and is a leader in the field of histone deacetylase (HDAC) inhibitors. Since its foundation in 2000, the company has grown both organically, and has extended its product portfolio as well as its oncology drug discovery and development capabilities through acquisitions. In 2002, TopoTarget acquired Prolifix Ltd in the
With the IPO proceeds, TopoTarget will strengthen its research and development and plans to establish a European sales organization to be ready for the launch of its first product Savene at the end of 2006.
DVC Deutsche Venture Capital, a leading venture capital firm based in
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Last updated on: 27/08/2010