Pharmiweb ChannelsAll | PharmaCo | Clinical Research | R&D/BioTech | Sales/Mktg | Healthcare | Recruitment | Pharmacy | Medical Comms

Pharmiweb.com RSS Feed Pharmiweb.com RSS Feeds

Advertising

Press Release

Newron launches a private placement of new shares

Newron Pharmaceuticals
Posted on: 27 Sep 17

Milan, Italy – September 25, 2017 – Newron Pharmaceuticals S.p.A. (“Newron” or the “Company”, SIX: NWRN), a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central and peripheral nervous system, announces the launch of a private placement of up to 2,000,000 new shares to institutional investors (representing up to 12.6% of the company’s current share capital), with the ordinary shares originating from the capital increases approved and empowered by Newron’s shareholders’ meetings in 2015 and 2016 (the “Transaction”). In line with the granted shareholders’ approvals, option rights of the existing shareholders are excluded.

Newron intends to use the net proceeds of the Transaction for general corporate purposes, including the financing of the Company’s operations and research programs and for the development of the Company’s current and future pipeline products, with a focus on Evenamide. The Company has a focus on developing drugs for orphan indications and products/product candidates that need specialized regulatory and development efforts. Newron is seeking opportunistic additions to the Company’s pipeline portfolio and, if such aforementioned development programs are successful, will explore the possibility of establishing commercialisation operations for certain selected territories.

 

The new shares will be placed with institutional investors through an accelerated book-building process, which will open with immediate effect. Newron will announce the results of the issuance as soon as possible after the closing of the book-build in a subsequent press release.

 

In relation to the Transaction, the Company has agreed to a lock-up undertaking for a period of 90 calendar days on future share issuances, subject to certain customary exceptions. The Company’s senior management and all members of the Board of Directors have also agreed to a lock-up undertaking for a period of 90 calendar days on future share disposals, subject to customary exceptions. No other parties have entered into any lock-up undertakings.

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 27/09/2017

Advertising
Site Map | Privacy & Security | Cookies | Terms and Conditions

PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.