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On March 5, UK-based pharmaceutical company Acacia Pharma, which is developing treatments for surgical and cancer patients, listed on Euronext stock exchange in Brussels, Compartment B, raising €40 million with an initial market capitalisation of €190 million. Degroof Petercam and RBC Europe supported Acacia Pharma in the deal execution.
Euronext, the pan-European stock exchange seated in Paris, Brussels, Amsterdam and Lisbon, has progressively become a prime location in Europe for pharma and biotech companies looking to go public. From now on, with the listing of Acacia Pharma, Euronext’s Life Science franchise counts 90 companies: 53 biotech companies as well as 37 medtech firms.
The global offering of Acacia Pharma is a milestone for the company. With most of its future operations focused on the US, the firm has opted to list on a European stock exchange, considering Euronext as the ideal pathway to foster their growth across the Atlantic. Euronext is the leading venue for biotech companies, with companies such as Ablynx, Galapagos and Cellectis.
In September 2017, Euronext decided to open new offices in Germany, Italy, Spain, and Switzerland in order to become a European hub for tech SMEs. More than 330 tech companies are listed on its four domestic exchanges. Euronext even decided to acquire the Irish Stock Exchange in Dublin to expand its federal model, adding another option for growing tech companies in the future.
Headquartered in Cambridge with an office in Indianapolis, Acacia Pharma is developing new treatments for nausea and vomiting in surgical and cancer patients, and anticipates launching its first product in the US in 2019 pending approval in late 2018.
Acacia Pharma is mainly focused on the US market and is backed by investors from Europe, the UK, and the US. Euronext’s strong international investor base for Life Science, with more than 450 active investors of which 35% are from the US, quickly became the first venue of choice for Acacia Pharma.
“The new funds provide us with a strong basis from which to build a successful US hospital-focused pharmaceutical business around our two late-stage products, BAREMSIS and APD403, and their potential to improve the lives of millions of patients undergoing surgery or cancer therapy,” said Julian Gilbert, CEO of Acacia Pharma, on the successful listing and future plans.