Oxurion Successfully Closes EUR >10 Million in Private Placement
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.