Euronext today celebrated the listing of GeNeuro, a biopharmaceutical company developing new treatments for autoimmune diseases including multiple sclerosis, in Compartment B of its regulated market in Paris.
GeNeuro (ticker symbol: GNRO) was listed through the admission to trading of 14,658,118 shares, including 2,538,500 new shares issued under a Global Offering after the partial exercise of the extension option and before the over-allotment option.
The admission price and issue price of GeNeuro was set at €13 per share. Market capitalisation on the day of listing was around €190 million, and the IPO raised a total of €33 million.
Jesús Martin-Garcia, Chairman and CEO of GeNeuro, said: “We are delighted to announce our successful IPO on Euronext's regulated market in Paris. The IPO will help GeNeuro step up its developments in multiple sclerosis along with its growth in Europe and the USA, but also in new autoimmune indications.”
Founded in 2006, GeNeuro has advanced rapidly over the past decade in the development of a new approach for treating autoimmune diseases, gaining the support of highly reputed pharmaceutical groups. The company is currently developing the first treatment that directly targets a potential cause of multiple sceloris (MS), a disease thataffects an estimated 2.5 million individuals worldwide and for which there is currently no treatment that significantlyslows the long term progression of disability. GeNeuro’s unique therapeutic approachhas the potential not only to slow or even halt the progression of multiple sclerosis, but also to tackle other autoimmune diseases, including CIDP (chronic inflammatory demyelinating polyneuropathy) – an orphan neurological disease – and type-1 diabetes.
(Press release)
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