NIBC supports Vivoryon’s EUR 43m Rights Issue
Vivoryon is a German Biotech focused on developing drugs for Alzheimer’s disease and oncology, listed on Euronext Amsterdam (VVY). It’s lead drug candidate PQ912 is a novel pharmaceutical approach in Alzheimer’s and was tested in phase IIa clinical studies. The Company was looking for funding to further develop PQ912 in Alzheimer’s disease by conducting phase IIb clinical studies in Europe and the US. Minimum use proceeds of EUR 30 million was required to fully fund the European clinical trial. In August 2019 the company turned to NIBC for its in-depth knowledge in the Life Sciences sector as well as its international reach amongst institutional investors.
NIBC acted as Joint Global Coordinator and Joint Bookrunner in the Rights Issue. Through the successful transaction, Vivoryon raised EUR 43 million to further develop its lead drug candidate in a phase IIb in Europe to treat Alzheimer's disease and prepare and initiate clinical development in the US.
NIBC demonstrated its sector expertise in creating a concise equity story, and showed our international reach among specialist and generalist institutional investors. The success of this Equity and Capital Markets transaction reflects NIBC´s approach of serving its clients with inventive, tailor-made advisory and financing solutions.
The Rights Issue enabled Vivoryon to achieve its capital requirements and contributed to its international visibility. As a well-funded company it now has the opportunity to further develop its lead drug candidate PQ912 in Alzheimer's disease.