Alligator Bioscience

Financial Adviser

Van Lanschot Kempen acted as Financial Adviser to Alligator Bioscience in its SEK 107m Rights Issue

Transaction highlights

The Rights Issue generated gross proceeds of c. SEK 107m (c. €9.4m) for Alligator Bioscience after 100,084,946 units were subscribed for during the subscription period
The Rights Issue achieved a subscription rate of c. 71%. The Company’s two largest shareholders, Koncentra Holding and Roxette Photo, as well as several members of the Company’s Board of Directors and management, had provided pro-rata subscription undertakings, corresponding to c. 40% of the Rights Issue
Each unit consisted of one ordinary share and one warrant series TO 9, which entitles the holder to subscribe for one new ordinary share at an exercise price corresponding to 90% of the volume-weighted average price of the Company’s share between 4 and 29 November 2024. The exercise period will run between 4 and 18 December 2024
Alligator intends to use the proceeds from the Rights Issue, after set-off of bridge loans, for preparations and continued studies of the drug candidates mitazalimab, ATOR-4066 and ALG.APV-527, and design and development of new Neo-X-Prime candidates and other general corporate purposes

Company description

Alligator Bioscience is a clinical-stage biotechnology company developing tumour-directed immuno-oncology antibody drugs. Alligator’s portfolio includes several promising drug candidates, with the CD40 agonist mitazalimab as its key asset. Furthermore, Alligator is co-developing ALG.APV-527 with Aptevo Therapeutics Inc. several undisclosed molecules based on its proprietary technology platform, Neo-X-Prime®, and novel drug candidates based on the RUBY® bispecific platform with Orion Corporation. Out-licensed programs include AC101/HLX22, in Phase 2 development, by Shanghai Henlius Biotech Inc. and an undisclosed target to Biotheus Inc.

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:

Co-Manager in the USD 350 million capital increase by Autolus Therapeutics
Financial Adviser to Galapagos in the €170 million sale of its Jyseleca business to Alfasigma
Sole Financial Adviser to Zealand Pharma in securing a €90 million venture debt facility from the European Investment Bank
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
Lead Manager in the USD 1.3 billion capital increase by argenx
Joint Bookrunner in the SEK 500m 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 €25 million capital increase by Vivoryon Therapeutics
Joint Global Coordinator & Joint Bookrunner in the €16 million capital increase by Sequana Medical

Contact

Nadine Maalouf

n.maalouf@vanlanschotkempen.com

Robin van Wijk

r.vanwijk@vanlanschotkempen.com