Breda, the Netherlands / Ghent, Belgium - June 01, 2016 – argenx (Euronext Brussels: ARGX), a clinical-stage biopharmaceutical company focused on creating and developing differentiated therapeutic antibodies for the treatment of cancer and severe autoimmune diseases, today announced that it entered into placement agreements with predominantly US institutional investors relating to the issue of a total of 2,703,000 new shares for an aggregate amount of €30,003,300. The issue price per new share in the financing is €11.10 and represents a discount of 2.6 % compared to the €11.40 closing price of the argenx share on Euronext Brussels on 31 May 2016.
The transaction was led by MPM Oncology Impact Fund with participation from Aquilo Capital, Burrage Capital, Dafna Capital, Perceptive Advisors and certain other existing and new institutional investors.
Following the completion of the transaction, the new shares will represent 13.49% of the total issued shares of argenx. The subscription agreements are subject to customary conditions precedent including listing of the new shares on Euronext Brussels. The aim is to close the transaction in the coming days.
About argenx
argenx combines the diversity of the llama immune system with antibody engineering to advance a clinical pipeline to treat patients with cancer and autoimmune diseases. Our platforms allow us to unlock novel and complex targets and develop antibody-based drugs designed for greater efficacy and longer duration of effect. The strength of our team, our deep understanding of the biology, and our committed collaborations with industry leaders contribute to the success of our journey.
argenx is listed on the Euronext Brussels exchange under the symbol ARGX.