BioAlliance Pharma in 40M-euro fund raising

Paris, France-based BioAlliance Pharma, which is focused on the development and commercialization of therapeutics targeting drug resistance in cancer, HIV, and opportunistic infections, says that it has raised funds by means of a private placement, using the authorization granted by the extraordinary shareholder meeting of April 24. The gross proceeds of the share capital increase amounts to 40.0 million euros ($55.3 million).

The share capital increase, led by Bryan, Garnier & Co as manager and bookrunner, was reserved for 32 international institutional qualified investors (companies or investment funds) investing in the pharmaceutical/biotechnology sector.

3,131,020 new shares have been issued at a share price of 12.79 euros, representing 25.2% of the outstanding share capital of BioAlliance Pharma post operation. The company intends to apply for the listing of the shares on the Eurolist market of Euronext Paris, where they will be fully-fungible with its existing ordinary shares. A prospectus has been submitted for approval to the Autorite des Marches Financiers for the listing of the shares. The settlement-delivery of the new shares will take place on August 1.