This increase in capital allows TxCell to pursue the development of innovative technologies against autoimmune diseases and transplant rejections.
In this operation, Invest Securities intervened as Lead Arranger and Bookrunner and Invest Corporate Finance intervened as adviser to the company.
A biotechnology company listed on Euronext, TxCell develops innovative personalised cell immunotherapies from T regulating cells (Tregs) for the treatment of inflammatory and severe chronic autoimmune diseases.
The €11 M transaction, which was 100%-subscribed, is a capital increase with maintaining of the preferential subscription right by the issuing of new shares, each combined with a warrant per share (ABSA), at the unit price of €2.00 per ABSA. The right of exercising of the BSA during one year at a subscription price of €2.60 per new share, would allow the Company to raise an additional €10.8 M.
The success of this operation and the support of the historic shareholders of TxCell provide the company with a reinforced financial structure in order to pursue the development of its innovative technologies against autoimmune diseases and transplant rejections. The BSA offer shareholders the possibility of participating in the future development of TxCell by reinforcing the capital and would allow TxCell to finance its activities until the obtaining of the regulatory permission, planned by the end of 2018, of the initial clinical study on humans with a CAR-Treg.
TxCell is a biotechnology company which develops platforms for innovative personalised T cell immunotherapies for the treatment of inflammatory diseases and severe autoimmune diseases presenting a strong unsatisfied medical need. TxCell targets different autoimmune diseases (related to T cells or B cells), including Crohn’s disease, renal lupus, bullous pemphigoid and multiple sclerosis, as well as inflammatory problems related to transplantation. TxCell is the only company in cell therapy at the clinical stage which concentrates exclusively on T regulatory lymphocytes (Tregs). The Tregs are a cell population recently discovered whose anti-inflammatory properties are now proved. Contrary to traditional approaches based on non-specific polyclonal Tregs, TxCell only develops specific antigen Tregs. This antigenic specificity can come either from modifications by genetic engineering to add a so-called chimeric receptor (CAR) or from a T cell receptor (TCR) naturally present on the surface of the Tregs. TxCell thus develops two technological platforms, ENTrIA, consisting of Treg cells modified by genetic engineering and ASTrIA, consisting of unmodified naturally-specific antigen Treg cells. Based in Sophia-Antipolis, TxCell is listed on the regulated market of Euronext in Paris and currently has 45 employees.
TxCell press release
Executives involved in the operation
Lead Arranger and Bookrunner: Invest Securities (Pascal Hadjedj)
Adviser to the Company: Invest Corporate Finance (Jean-Emmanuel Vernay and Charlène Imbert)