Adocia: increasing the size of its initial public offering to EUR 27.36 million in March 2012

16 May 2012

Adocia, a biotechnology company specialized in the formulation of therapeutic proteins for treating diabetes and chronic wounds announced on 15th March 2012 that, within the framework of its initial public offering on the regulated market of NYSE Euronext in Paris, the Lead Manager and Bookrunner, Dexia Securities France, had partially exercised the overallotment option, resulting in the issuance of 130,268 additional new shares at the offering price, i.e. €15.88 per share.

As a result, the total number of Adocia shares offered to the market within the framework of its initial public offering is equal to 1,723,066 new shares, i.e. 27.87% of Adocia's share capital and 17.27% of its voting rights.

The total number of Adocia shares pursuant to the partial exercise of the overallotment option is thus equal to 6,181,776 shares.

The aggregate amount of Adocia's capital increase, including the Public Offering and the Global Placement, thus now totals €27.36 million.

Statement by the chief executive officer of Adocia

Gérard Soula, CEO and cofounder of Adocia, states: "Thanks to the success of our initial public offering on the regulated market of NYSE Euronext in Paris, Adocia now has a cash position of €38 million.

We thus have financial means that should enable us to implement our development strategy to achieve our ambitious targets.

We would again like to wholeheartedly thank all the shareholders who have put their trust in us and who will henceforth accompany us in our growth."

Terms of the stabilization operations

In accordance with article 631-10 of the General Regulations of the Autorité des marchés financiers (French market authority), Dexia Securities France, in its capacity as stabilizing agent, declares that:

  • it carried out stabilization operations on Adocia shares which started on 20 February 2012;
  • the last stabilization operation took place on 14 March 2012;

Find out more

A biotech company founded by Gérard, Olivier and Rémi Soula (Gérard Soula is the founder of Flamel Technologies) in 2005, Adocia's mission is to create best-in-class drugs for the mass market from the innovative formulation of certain already-approved therapeutic proteins.

Adocia is based in Lyon (France) and is a member of Lyonbiopôle competitiveness cluster.

To date, Adocia has already carried out two collaborative development programs with Pharma majors.

Furthermore, Adocia recently signed an exclusive worldwide license contract with the development of an ultra-fast insulin analog.

As well as the Soula family, which is Adocia's main shareholder with close to 35% Adocia's shareholders include some of the largest investment funds specializing in innovation: Innobio (managed by CDC Entreprises), IdInvest, BioAm, Amundi, Viveris, Oréo Finance and Sham.