Zealand Pharma

Sole Financial Adviser

Van Lanschot Kempen acted as Sole Financial Adviser to Zealand Pharma in securing a €90 million venture debt facility from the European Investment Bank (“EIB”) to advance its portfolio of novel preclinical and clinical-stage peptide-based drug candidates for a range of diseases

Transaction highlights

Zealand Pharma successfully entered into a €90 million venture debt facility marking a great milestone in the life of the company.
The loan facility provided by EIB will enable Zealand Pharma to further support its portfolio of novel preclinical and clinical-stage peptide-based drug candidates for treatment of inter alia rare diseases, metabolic, obesity, gastrointestinal and cardiovascular disorders.
The total amount of €90 million may be utilised in up to three tranches of €50 million (Tranche A), €20 million (Tranche B) and €20 million (Tranche C), respectively, with disbursement of each tranche subject to pre-specified milestones being met. In addition, the EIB will enter into a warrant agreement with Zealand that will entitle the EIB to receive warrants in Zealand when each tranche is drawn down.
Van Lanschot Kempen has been instrumental in securing competitive and attractive terms for Zealand Pharma in market circumstances with continuously rising interest rates.
Henriette Wennicke, Chief Financial Officer at Zealand Pharma: “We are very pleased with the endorsement and support from the EIB for our investments in our R&D pipeline. This loan facility will further strengthen the financial position of Zealand Pharma, enabling us to invest in our differentiated obesity assets while better positioning us to secure commercial partnerships for our rare disease assets”.
Following our previous involvement in Zealand Pharma’s successful capital increases in October 2022 and March 2023, we are proud to have assisted this repeat client in another financing transaction.

Company description

Zealand Pharma A/S (Nasdaq: ZEAL) ("Zealand") is a biotechnology company focused on the discovery and development of peptide-based medicines. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market and three candidates are in late-stage development. The company has development partnerships with a number of blue-chip pharma companies as well as commercial partnerships for its marketed products. Founded in 1998 and headquartered in Copenhagen, Denmark, Zealand has a team in the U.S.

For more information about Zealand’s business and activities, please visit http://www.zealandpharma.com.

Background Van Lanschot Kempen Life Sciences & Healthcare

Financial Adviser to Galapagos in the €170 million sale of its Jyseleca business
Joint Global Coordinator & Joint Bookrunner in the SEK 59 million Capital Increase by Cantargia
Joint Global Coordinator & Joint Bookrunner in the NOK 505 million Capital Increase by Nykode Therapeutics
Sole Financial Adviser in the SEK 120 million Structured Equity transaction by SynAct Pharma
Lead Manager in the USD 173 million Capital Increase by Merus
Manager in the USD 1.3 billion Capital Increase by argenx
Joint Bookrunner in the SEK 500 million Capital Increase by Vicore Pharma
Financial Adviser to NewAmsterdam Pharma in the USD 182 million secondary sell-down by existing investors
Joint Global Coordinator & Joint Bookrunner in the EUR 25 million Capital Increase by Vivoryon Therapeutics
Joint Global Coordinator & Joint Bookrunner in the EUR 16 million Capital Increase by Sequana Medical
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 Capital Increase by CureVac
Sole Financial Adviser to GenSight Biologics in securing a EUR 12 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 Capital Increase by Vicore Pharma
Joint Global Bookrunner in the SEK 148 million Fully Guaranteed Rights Issue by Biovica

Team

Nadine Maalouf

n.maalouf@vanlanschotkempen.com

Guus de Haan

g.dehaan@vanlanschotkempen.com