France's NicOx raises 55.4 million euros
French biotechnology firm NicOx has managed to raise 55.4 million euros($48.6 million) in a secondary offering on the Nouveau Marche, 10 million euros less than its original aim (Marketletter May 14). The firm placed some 870,000 new shares at a price of 68.20 euros each.
Michele Garufi, NicOx' chief executive, said the offering was a success "particularly given the difficult underlying market conditions." He added that the funding confirmed "the recognition by the financial community of the leadership position of NicOx in the European biotech sector," and the potential of its nitric oxide-releasing drugs.
Acquisition lined up
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