Sequana Medical

Joint Global Coordinator and Joint Bookrunner

Kempen & Co acted as Joint Global Coordinator & Joint Bookrunner in the successful capital increase via Accelerated Bookbuild Offering of €22.5 million of Sequana Medical

Transaction highlights

Capital increase by way of Accelerated Bookbuild Offering comprising 2,647,059 new shares, representing approximately 17% of the Company’s outstanding share capital
The deal was priced at €8.50 per share, which is c. 42% above the offer price of Sequana Medical’s previous capital increase approximately one year ago
The transaction launched following supportive market sounding and was upsized due to strong demand once in the market both by core existing and new investors, including European and US investors
Net proceeds will be used to continue and advance the North American pivotal study of the alfapump® in liver disease, and the repeated dose study of the alfapump DSR® (Direct Sodium Removal) in diuretic-resistant heart failure patients
This transaction represents the third transaction in which Kempen & Co acted as Joint Global Coordinator and Joint Bookrunner for the Company following a capital increase in 2020 and the IPO in early 2019, underpinning our ambition to be a long-term partner for our clients
Moreover, Sequana Medical’s capital increase marks Kempen & Co’s 4th ECM transaction for a European Life Sciences company priced in 2021 year to date

Company description

Sequana Medical is a commercial stage medical device company developing the alfapump® platform for the treatment of fluid overload in liver disease, malignant ascites and heart failure where diuretics are no longer effective. Fluid overload is a fast growing complication of advanced liver disease driven by NASH (non-alcoholic steatohepatitis) related cirrhosis and a common complication in heart failure with diuretic resistance being widespread in both of these indications. Both indications leverage Sequana Medical’s alfapump®, unique, fully implanted wireless device that automatically pumps fluid from the abdomen into the bladder, where it is naturally eliminated through urination.

Background Kempen Life Sciences & Healthcare

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

Co-Manager in the USD 115 million US Public Offering by Autolus Therapeutics
Co-Manager in the USD 165 million Nasdaq Initial Public Offering by Pharvaris
Passive Bookrunner in the USD 518 million US Public Offering by CureVac
Lead Manager in the USD 120 million US Public Offering by Merus
Financial Adviser to DCprime in its merger with Immunicum
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