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Sep 2020
Joint Bookrunner
€ 31 million
Accelerated Bookbuild Offering


Kempen & Co is pleased to announce that it acted as Joint Bookrunner in Sensorion’s Capital Increase of €31 million

Transaction highlights

  • Accelerated bookbuild offering of 18,236,000 shares, c. 31% of Sensorion’s outstanding share capital, issued at a price of €1.70 per share and resulting in total gross proceeds of €31 million
  • The issuance represents a discount of 3.5% to the weighted average share price on 17 September 2020
  • The proceeds will be used to develop Sensorion’s current gene therapy programs, potentially broaden its gene therapy pipeline, support its pharmacology and clinical studies for Phase III development of SENS-401 and for working capital and general corporate purposes
  • The transaction was executed based on strong support from existing shareholders, Invus Public Equities LP and Sofinnova Partners
  • Kempen & Co was instrumental in introducing Sensorion to top tier international investors during an extensive pre-deal virtual roadshow that led to diversification of the shareholder base 
  • In 2020 year to date, Kempen & Co has executed 15 transactions for European Life Sciences companies and the first with Sensorion, underpinning our ambition to support innovative life sciences companies across Europe

Company description

Sensorion is a pioneering clinical-stage biotech company, which specialises in the development of novel therapies to restore, treat and prevent within the field of hearing loss disorders. Its clinical stage portfolio includes one Phase II product: SENS-401 (arazasetron) for sudden sensorineural hearing loss (SSNHL). Sensorion has built a unique R&D technology platform to expand its understanding of the pathophysiology and aetiology of inner ear related diseases enabling it to select the best targets and modalities for drug candidates. The Company is also working on the identification of biomarkers to improve diagnosis of these underserved illnesses. In the second half of 2019, Sensorion launched two preclinical gene therapy programs aiming at correcting hereditary monogenic forms of deafness including Usher Type 1 and deafness caused by a mutation of the gene encoding for Otoferlin. The Company is uniquely placed, through its platforms and pipeline of potential therapeutics, to make a lasting positive impact on hundreds of thousands of people with inner ear related disorders, a significant global unmet medical need. 

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: 

  • Passive Bookrunner in the c. USD 213 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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