NicOx is 45.5 million-euro fund raising

Sophia Antipolis, France-based NicOx SA says that it has raised funds by means of a private placement, using the authorization granted by the extraordinary shareholder meeting of June 1, 2005. The gross proceeds of the share capital increase would amount to araound 45.5 million euros ($57.4 million). The net proceeds are estimated at some 43.0 million euros.

The share capital increase, by issuance of 4,552,000, new shares, is reserved for 43 international institutional investors (companies or investment funds) investing in the pharmaceutical/biotech sector. Subscribers to the fund raising included US and European investors. The settlement-delivery of the new shares will take place on May 3 2006.

NicOx intends to apply for the listing of the new shares on the Eurolist of Euronext Paris, where they will be fully fungible with the existing ordinary shares of the company. A prospectus has been submitted for approval to the regulatory body, the Autorite des Marches Financiers."