BioSenic raises 500,000 euros in a private placement of new shares with new established investors

(Boursier.com) — Biosenic the clinical-stage company specializing in serious autoimmune and inflammatory diseases and cell therapy, today announces that it has raised €500,000 in gross proceeds through a private placement of 12,195,120 new shares to an issue price of 0.041 euros per share to institutional investors, Gestys and Friedland Gestion.

BioSenic intends to use the net proceeds from the offering, along with other sources, to prepare an IND application to the FDA for the Phase 3 clinical study with oral arsenic trioxide (OATO) in the first-line treatment of chronic graft-versus-host disease (cGvHD). They will also cover corporate overhead costs, primarily related to clinical regulatory requirements and BioSenic’s operational activities.

In line with its financing strategy, the private placement will allow BioSenic to continue to explore other financing options in the coming months in order to strengthen its balance sheet and cash flow. Payment and delivery of the new shares are expected to take place on or around February 6, 2024. At the same time, an application for admission of the new shares to trading on the regulated markets of Euronext Brussels and Euronext Paris will be submitted and a prospectus admission to trading will be published by the Company.

The new shares to be issued will have the same rights and benefits as the existing and outstanding shares of BioSenic at the time of issuance and will rank pari passu in all respects. A copy of the report prepared by the board of directors of BioSenic in accordance with the Belgian Code of Companies and Associations describing, among other things, the capital increase, its consequences and the justification of the issue price is available in the Investors section of the BioSenic website (under Regulated information – Issues of shares and bonds).

The total dilution to existing shareholders resulting from the issuance of the new shares amounts to 6.95% and, after the effective issuance of the new shares, the total number of BioSenic shares will amount to 175,376,594.