Galecto

• Initial Public Offering on the Nasdaq Global Market of 5,666,667 shares at a price of USD 15 per share, raising total gross proceeds of USD 85.0 million, which can increase to USD 97.8 million in case the over-allotment option is exercised in full
• The IPO priced in the middle of the IPO price range of USD 14 – 16 against a challenging and increasingly volatile market backdrop
• Notwithstanding the market backdrop, the transaction generated strong demand from generalist and specialist investors globally, leading to a multiple times covered orderbook
• The proceeds will primarily be used to fund the Phase III clinical trial in idiopathic pulmonary fibrosis for Company’s lead product candidate GB0139, as well as the development of additional pipeline programmes
• Galecto’s IPO marks the fifth IPO on Nasdaq in which Kempen & Co acted as an underwriter, and the second US Nasdaq IPO Kempen & Co executed for a Scandinavian company
• In 2020 year to date, Kempen & Co has executed 16 transactions for European Life Sciences companies, including 3 IPOs

Galecto is a clinical stage biotechnology company with advanced programs in fibrosis and cancer centered on galectin-3 and LOXL2. The Company’s pipeline includes an inhaled galectin-3 modulator currently in Phase IIb for the potential treatment of idiopathic pulmonary fibrosis, as well as two assets about to move into Phase II targeting NASH and myelofibrosis. The Company is incorporated in the U.S. and has its operating headquarters in Copenhagen, Denmark.

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 €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