Cerenis raises EUR 53.4M in Euronext IPO

Cardiovascular play Cerenis Therapeutics S.A. (Euronext:CEREN) raised EUR 53.4 million ($57.7 million) through the sale of 4.2 million shares at EUR 12.70 in an IPO on Euronext. The IPO price values Cerenis at EUR 225.9 million ($234.9 million). CM-CIC Securities and Gilbert Dupont were underwriters. Cerenis expects its shares to begin trading March 30.

Cerenis is developing a portfolio of high-density lipoprotein therapies. It expects data in 1Q17 from a Phase II study of CER-001 to treat post-acute coronary syndrome (ACS), and plans to conduct a Phase III study of the compound to treat familial primary hypoalphalipoproteinemia. The complex of recombinant apolipoprotein A-1 ( APOA1) and charged phospholipids received Orphan Drug designation from the European Commission last September to treat APOA1 and ATP-binding cassette transporter 1 ( ABCA1) deficiencies. ...