VectivBio Announces Closing of $54 Million Aggregate Financing

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05.07.2022
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Basel-based VectivBio is focused on novel treatments for severe rare conditions. Its lead molecule is already in Phase 3 Clinical Trials. VectivBio has closed each of its previously announced public offering of 6,467,688 ordinary shares, including its previously announced private placement for the sale of 3,478,260 ordinary shares to Forbion’s Growth Opportunities Fund II.

VectivBio is a global clinical-stage biotechnology company focused on transforming and improving the lives of patients with severe rare conditions. Lead product candidate apraglutide is a next-generation, long-acting synthetic GLP-2 analog being developed for a range of rare gastrointestinal diseases where GLP-2 can play a central role in addressing disease pathophysiology, including short bowel syndrome with intestinal failure (SBS-IF) and Acute Graft-Versus-Host Disease (aGVHD). Two pahse clinical trials of Apraglutide in SBS-IF are ongoing. 

VectivBio has generated $54 million. Forbion invested $18 million in the company. Forbion is a leading European life sciences venture capital firm, which recently announced a €470 million (USD 500 million) first close of its Forbion Growth Opportunities Fund II, focused on investing in late-clinical stage European life sciences companies. Forbion will be allowed to nominate a board member subject to consent by VectivBio’s Board, which appointment is then to be confirmed at a shareholders’ meeting of VectivBio, to be held prior to the end of 2022.

The company has closed each of its previously announced public offering of 6,467,688 ordinary shares, including the sale to the underwriters of 752,688 ordinary shares sold pursuant to the partial exercise of the underwriters’ previously granted option to purchase additional ordinary shares and its previously announced private placement for the sale of 3,478,260 ordinary shares to Forbion’s Growth Opportunities Fund II. All ordinary shares sold in the public offering were offered by VectivBio at a public offering price of $5.25 per share. The total gross proceeds to VectivBio from the public offering, including pursuant to the underwriters’ option, were approximately $34 million, before deducting underwriting discounts and commissions and offering expenses. All ordinary shares sold in the private placement transaction were offered by VectivBio at a price of $5.75 per ordinary share, for gross proceeds to VectivBio of approximately $20 million, before deducting financial advisory fees and other offering expenses.

(Press release / SK)

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