Last Updated on March 7, 2022 by GlobeNewsWire
Led by new top-tier healthcare institutional investors along with participation by current major shareholders
Leuven, BELGIUM, Boston, MA, US – MARCH 7, 2022 – 10.00 AM CET – Oxurion NV (Euronext Brussels: OXUR) (the “Company” or “Oxurion“), a biopharmaceutical company developing next generation standard of care ophthalmic therapies, with a clinical stage assets in vascular retinal disorders, announces today that it successfully completed a private equity placement by which it raised EUR 10.4 million in gross proceeds for 7,226,039 new shares issued at EUR 1.44 (the “Private Placement“). The financing was led by new top-tier healthcare institutional investors and included participation from current major shareholders. Two-thirds of the proceeds were provided by new US and European investors, including Belgian-based NOSHAQ SA and Banque CPH CV, and the transaction was priced at a four percent premium to the closing price prior to the announcement of the transaction.
Tom Graney, CEO of Oxurion, commented: “We are delighted to attract top-tier US and European healthcare investors and at the same time, participation from our current major shareholders, through this transaction, which priced at a premium to our share price prior to announcement. This investment comes on the heels of the recent positive Phase 2 Part A results with THR-149 for the treatment of diabetic macular edema (“DME”) that were presented at Angiogenesis 2022 and is a vote of confidence in the value of our pipeline. Strategically, this financing represents an important step as we prepare to announce data from THR-687, our second Phase 2 program, in the second quarter this year. We see meaningful opportunities ahead for Oxurion to disrupt and grow the $12 billion global ophthalmology market, currently being served by anti-VEGF therapies, with new treatments for patients with DME and other retinal diseases, and we welcome our important new investors, which represented two-thirds of the proceeds, to the team.”
Oxurion plans to use the net proceeds of the Private Placement to progress the development of its two clinical stage assets, THR-149 and THR-687, which are currently in Phase 2 clinical trials for DME: THR-149 for second-line treatment and THR-687 for first-line treatment.
Oxurion (Euronext Brussels: OXUR) is a biopharmaceutical company developing next generation standard of care ophthalmic therapies, which are designed to better preserve vision in patients with retinal vascular disorders including diabetic macular edema (DME), the leading cause of vision loss in diabetic patients worldwide as well as other conditions, including wet age-related macular degeneration (wet AMD) and macular edema following retinal vein occlusion (ME-RVO). Oxurion is aiming to build a leading global franchise in the treatment of retinal vascular disorders based on the successful development of its two novel therapeutics. THR-149 is a potent plasma kallikrein inhibitor being developed as a potential new standard of care for the 40-50% of DME patients showing suboptimal response to anti-VEGF therapy. THR-687 is a highly selective pan-RGD integrin antagonist that is being developed as a potential first line therapy for DME patients as well as wet AMD and potentially ME-RVO. Oxurion is headquartered in Leuven, Belgium, with corporate operations in Boston, MA. More information is available at http://www.oxurion.com.
Important information about forward-looking statements
Certain statements in this press release may be considered “forward-looking”. Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company’s Annual Report. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of Oxurion in any jurisdiction. No securities of Oxurion may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.
For more information, please contact:
Chief Executive Officer
Tel: +32 16 75 13 10
Chief Business Officer
Tel: +32 479 783 583
David Dible/ Sylvie Berrebi/Frazer Hall
Tel: +44 (0) 203 928 6900
Westwicke, an ICR Company
Tel: +1 617 835 9304