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Person › Details

Natalia Baranowska (Selvita S.A. (WSE:SLV))

Baranowska, Natalia (Selvita 201412 Media Contact)

 

Organisation Organisation Selvita S.A. (WSE:SLV)
Product Product drug discovery
     

Selvita S.A.. (12/16/14). "Press Release: Selvita Has Raised PLN 27.3 MM on Its Way to the Main Market of the Warsaw Stock Exchange". Kraków.

Selvita, Poland-based integrated drug discovery partner for the pharmaceutical and biotechnology industry, has successfully completed its Initial Public Offering. Gross proceeds from the sale of 2,651,891 new shares amount to PLN 27.3 MM (US$ 8.1 MM), sold at the maximum announced price. Selvita plans to enter the main market of the Warsaw Stock Exchange in December 2014.

The company offered a new issue of 2,651,891 Series F shares, all of which were acquired at the price of PLN 10.3 per share.

Selvita plans to list new shares on the main market of the Warsaw Stock Exchange, together with 6,413,566 shares of series B, C, D and E, previously listed on the NewConnect market, on December 19, 2014. Once the share issue has been formally completed and the new shares have been registered, Selvita’s capital will be divided into 13,115,457 shares.

According to the company’s decision 12% of shares offered went to retail investors and institutional investors acquired 88% of the new issue.

“We are very pleased with investors’ interest in Selvita. The demand among retail and institutional investors has significantly exceeded the number of shares offered. I would like to thank all those who have decided to invest in our Company. Thanks to our new investors, Selvita will be able to develop its projects more rapidly, which will hopefully result in providing more treatment options in areas of high unmet medical need for oncology patients and further dynamic growth of our shareholder value” - said Pawel Przewiezlikowski, co-founder and Chief Executive Officer of Selvita S.A.

As a result of the offer Selvita has strengthened its investor base with many recognized international and Polish asset managers including five of the largest 100 global institutions and significantly increased the number of retail stock holders to more than 1,000.

The company will use the issue proceeds to fund an investment program worth approx. US$ 17 MM over the next three years. The remaining part of the funds for the investment program will provided with the already secured Polish government grants. Selvita has already secured almost 9 million USD from its own funds and grant funding.

The proceeds from the capital increase will be utilized for three major purposes:
• Progressing SEL24 and SEL120 through pre-clinical and Phase I development
• Supporting Selvita’s early stage discovery programs, mainly in oncology
• Further lab expansion and advanced equipment procurement for Selvita services division

After the issue Selvita will commence the IND-enabling studies of SEL24 and SEL120 as well as continue the on-going partnering discussions around its most advanced assets to maximize medical, regulatory and commercial chances of its programs.

“Today is undoubtedly one of the most important days in the history of Selvita. Once the issue has been registered, we will have among our shareholders some of the most renowned Polish and foreign financial investors, including the largest international asset management institutions. The trust we've been shown is a great honor to us. A key task for us now, is to use the proceeds from the share issue in order to execute the strategy presented to the investors” - said Boguslaw Sieczkowski, co-founder and Chief Operating and Financial Officer of Selvita S.A.

Selvita operates in two business areas: innovative and service sector.

The innovative division is oriented towards the search for novel, original drugs - primarily in the area of oncology, where Selvita cooperates with some of the most renowned drug discovery companies such as H3 Biomedicine, Merck Serono and Felicitex Therapeutics. Drug discovery outsourcing division provides international and Polish pharmaceutical, biotechnology and industrial clients with high-value added and cost efficient research services. Selvita clients include more than fifty large and medium-sized pharmaceutical and biotechnology companies from the US, Europe and Asia including seven of the ten largest pharmaceutical companies in the world.


About Selvita

Selvita is a Polish biotechnology company engaged in the discovery and development of breakthrough medicines to treat oncology, CNS and autoimmune disorders, as well as provision of drug discovery services. It was established in 2007 and currently employs 220 people, including 70 PhDs. Selvita has currently several internal projects at early or late discovery stage and is expected to move its first candidates to the clinic in 2015. The most advanced programs at Selvita are SEL24, a pre-clinical PIM/FLT3 kinase inhibitor, with multiple indications in hematopoietic tumors and SEL120, first-in-class small molecule inhibitor of cyclin dependent kinase CDK8. Other innovative projects currently in development include SEL201 – novel small molecule MNK1/2 inhibitors in oncology, cancer metabolism platform and inflammasome platform. Three of Selvita's oncology programs are developed with partners. Drug discovery clients of Selvita include more than fifty large and medium-sized pharmaceutical and biotechnology companies from USA and Europe. Selvita is currently moving to the main market of Warsaw Stock Exchange in Poland. More info can be found on http://www.selvita.com

Media contact:
Natalia Baranowska
natalia.baranowska@selvita.com
+48 784 069 418

   
Record changed: 2019-04-26

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