Sequana Medical

Joint Global Coordinator & Joint Bookrunner

Van Lanschot Kempen acted as Joint Global Coordinator & Joint Bookrunner in the €15.8 million Accelerated Bookbuild Offering by Sequana Medical

Transaction Highlights

Capital Increase by way of accelerated bookbuild offering of 4,445,205 new shares, corresponding to c. 19% of the Company’s outstanding capital, at a price of €3.55 and 1,111,294 new subscription rights at an exercise price of €5.10 per underlying new share, generating gross proceeds of €15.8 million for Sequana Medical
The Capital Increase launched following a supportive market sounding exercise including participation from existing and new international institutional investors and was successfully completed despite current challenging market conditions
Sequana Medical intends to use the proceeds to/for: (i) advance the North American pivotal study of the alfapump in liver disease; (ii) prepare alfapump PMA filing and review; (iii) initiate a US randomised controlled multi-center Phase 1/2a study using DSR 2.0; (iv) complete DSR 2.0 development work; (v) debt service; (vi) general corporate and working capital purposes
This transaction represents the fourth transaction in which Van Lanschot Kempen acted as Joint Global Coordinator and Joint Bookrunner for the Company following its Capital Increases in 2021 and 2020 as well as its IPO on Euronext Brussels in early 2019, demonstrating our ambition to serve as a long-term partner for our clients

Company Description

Sequana Medical focusses on the treatment of fluid overload, a serious and frequent clinical complication in patients with liver disease, heart failure and cancer. These patients can have up to 15 litres of extra fluid in their bodies, causing major medical issues including increased mortality, repeated hospitalizations, severe pain, difficult breathing and restricted mobility that severely impacts daily life. Although diuretics are standard of care, the problem is that in many patients they are no longer effective and / or tolerable. There are limited effective treatment options for these patients, resulting in poor clinical outcomes, high costs and a major impact on their quality of life. Sequana Medical is seeking to provide treatment options for this large and growing "diuretic-resistant" patient population.

alfapump® and DSR® are Sequana Medical's proprietary platforms that work with the body to treat diuretic-resistant fluid overload, delivering major clinical and quality of life benefits for patients and reducing costs for healthcare systems. The Company has reported positive primary endpoint data from the North American pivotal POSEIDON trial of the alfapump in recurrent or refractory ascites due to liver cirrhosis, enabling the filing of a Pre-Market Approval (PMA) application with the FDA, planned for H2 2023. Having delivered clinical proof-of-concept for DSR as a disease-modifying drug program for the treatment of heart failure, the Company is planning to commence MOJAVE, a US randomized controlled multi-center Phase 1/2a clinical trial of DSR 2.0, in Q2 2023.

Sequana Medical is listed on the regulated market of Euronext Brussels (Ticker: SEQUA.BR) and headquartered in Ghent, Belgium.

Background Van Lanschot Kempen Life Sciences & Healthcare

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

Lead Manager in the DKK 1.5 billion Capital Increase by Zealand Pharma
Capital Markets Advisor & Placement Agent in the merger between European Biotech Acquisition Corp. and Oculis SA and the connected USD 91 million PIPE
Lead Manager in the USD 250 million US Public Offering by CureVac
Sole Financial Adviser to GenSight Biologics in securing a €12.0 million credit facility from Heights Capital Management
Joint Global Coordinator and Joint Bookrunner in the SEK 416 million Capital Increase by Hansa Biopharma
Sole Financial Adviser in SynAct Pharma’s acquisition of TXP Pharma and Joint Global Coordinator & Joint Bookrunner in SynAct Pharma’s SEK 80 million PIPE
Joint Bookrunner in the SEK 200 million Accelerated Bookbuild Offering by Vicore Pharma
Joint Global Bookrunner in the SEK 148 million Fully Guaranteed Rights Issue by Biovica
Sole Financial Adviser to GenSight Biologics in securing a €35.0 million credit facility from the European Investment Bank
Joint Global Coordinator & Joint Bookrunner in the SEK 170 million Accelerated Bookbuild offering of Xbrane Biopharma
Co-Lead Manager in the DKK 786 million Capital Increase by Zealand Pharma
Financial Advisor in the sale of Sanquin Reagents by Sanquin Health Solutions to Gilde Healthcare
Financial Advisor in the up to SEK 250 million (convertible) debt financing by Mendus
Joint Global Coordinator in the SEK 299 million Directed Share Issue by BioInvent
Sole Global Coordinator in the SEK 200 million financing consisting of a SEK 150m PIPE and a SEK 50 million Fully Guaranteed Rights Issue by Abliva
Joint Global Coordinator & Joint Bookrunner in the SEK 150 million Fully Guaranteed Rights Issue by SynAct Pharma

Please do not hesitate to contact us if you have further questions

Jan De Kerpel

Mail Jan de Kerpel

Kathrin Erfurth

Mail Kathrin Erfurth