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Dec 2020
dc prime
Financial Adviser
SEK 599 million
Merger with Immunicum


Kempen & Co is pleased to announce that it acted as Financial Advisor in the combination between DCprime and Immunicum.

Transaction highlights

  • Kempen & Co has advised DCprime on its business combination with Immunicum, a Swedish-listed biopharmaceutical company. Immunicum will acquire all of the outstanding shares in DCprime for SEK 599 million, paid by an issue in kind of Immunicum shares
  • The deal combines two synergistic therapeutic approaches and establishes a leader in cell-based cancer immunotherapeutics, with a diversified pipeline containing multiple clinical assets in both blood-borne and solid tumours
  • The combination was supported by the majority shareholders of both companies, Van Herk Investments and AP4 fonden. Van Herk Investments, a leading European life science investor, holds c. 43% of the shares in the combined entity 
  • Following the combination, Van Herk Investments intends to invest up to SEK 82.5 million in the combined entity
  • This transaction concludes a very successful year for Kempen & Co, acting as our third successful Life Sciences M&A deal in 2020, and our first involving a Scandinavian company, further expanding our offering in the region

Company description

DCprime is the front-runner in the field of relapse vaccines, a new class of oncology vaccines administered after or in conjunction with standard of care therapy to delay or prevent disease recurrence. DCprime’s lead product, DCP-001, is a whole-cell-based vaccine addressing blood cancers with a high risk of relapse, currently in Phase II trials in AML. DCprime is pursuing similar vaccination approaches for solid tumors. DCprime believes relapse vaccines will improve survival by putting the patient’s immune system back in control. 

Following the combination, DCprime will become part of Immunicum. The combined entity will trade on the Nasdaq Stockholm exchange (STO: IMMU). 

Background Kempen & Co Life Sciences & Healthcare

In 2020, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:

  • Joint Bookrunner in the SEK 564 million Capital Increase by Cantargia
  • Sole Financial Adviser in the sale of Galapagos’ service operation, Fidelta, to Selvita for a total consideration of €31.2 million
  • Placement Agent in Investinor’s Secondary Sell-Down of c. 4 million shares in Calliditas Therapeutics
  • Lead Manager in the USD 85.0 million Nasdaq Initial Public Offering by Galecto
  • Joint Bookrunner in the €31.0 million Capital Increase by Sensorion
  • Bookrunner in the USD 245 million Nasdaq Initial Public Offering by Curevac
  • Co-Manager in the USD 49.0 million US Public Offering by Centogene
  • Joint Bookrunner in the SEK 1.11 billion Capital Increase by Hansa Biopharma
  • Joint Bookrunner in the CHF 80.2 million Capital Increase by Molecular Partners
  • Co-Manager in the USD 690 million US Public Offering by Ascendis Pharma
  • Financial advisor in Immatics’ business combination with Arya Sciences Acquisition Corp., thereby becoming a Nasdaq listed company and securing USD 253 million
  • Joint Global Coordinator and Joint Bookrunner in the €61.8 million Initial Public Offering by Hyloris Pharmaceuticals
  • Joint Bookrunner in the €20.0 million Capital Increase by Oryzon Genomics
  • Joint Global Coordinator and Joint Bookrunner in the SEK 487 million Capital Increase by BioInvent
  • Joint Global Coordinator and Joint Bookrunner in the c. SEK 400 million Capital Increase by Immunovia
  • Co-Manager in the USD 862 million Global Offering by argenx
  • Joint Bookrunner in the SEK 1.41 billion Capital Increase by Oncopeptides
  • Co-Manager in the USD 154 million Global Offering of DBV Therapeutics
  • Joint Global Coordinator and Joint Bookrunner in the €19.0 million Capital Increase by Sequana Medical

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