With a EUR 190 million market cap, Acacia Pharma realizes the largest new healthcare listing on Euronext in two years.
Utrecht, The Netherlands – Acacia Pharma Group plc announces its Initial Global Offering and listing on Euronext Brussels. Shares in the Initial Global Offering are issued to institutional investors in Europe, the UK and the US, raising gross proceeds of EUR 40 million. The total market capitalisation of Acacia Pharma at the commencement of conditional dealings will be EUR 190 million, representing the largest new healthcare listing on Euronext in two years. The shares will trade under ticker symbol ACPH.
The new funds enable Acacia Pharma to build a successful US hospital-focused pharmaceutical business initially focused on commercialising its lead product BAREMSIS® for the rescue treatment of patients with post-operative nausea & vomiting (PONV). The NDA for BAREMSIS is under review by the FDA following four positive Phase 3 trials and the FDA has set Oct. 5, 2018 as the target date to complete its review. If the drug is approved, Acacia Pharma plans to commercialize the product itself in the U.S., primarily selling to hospitals. BAREMSIS could become an important new option for the 16 million surgical patients in the US annually who suffer PONV despite having received prior prophylaxis with standard antiemetics, an area where no other antiemetics have been successful in clinical studies; and in preventing PONV in combination with standard antiemetics in the 18 million patients in the US annually who are at high risk of developing it.
Additionally, the new funds allow Acacia Pharma to advance the development of APD403 for chemotherapy-induced nausea and vomiting (CINV) which has successfully completed one proof-of-concept and one Phase 2 dose-ranging study in patients receiving highly emetogenic chemotherapy.
Gilde Healthcare acted as lead investor in Acacia Pharma and supported the company from seed stage through its IPO. Gilde Healthcare remains represented on the board of Acacia post admission on Euronext.
Bank Degroof Petercam NV/SA and RBC Europe Limited acted as Joint Global Coordinators and Joint Bookrunners in connection with the Global Offer. Bank Degroof Petercam NV/SA acts as Stabilisation Manager.
About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing two business lines: a venture & growth capital fund and a lower mid-market buy-out fund. Gilde Healthcare’s venture & growth capital fund invests in medtech, diagnostics, digital health and therapeutics. The portfolio companies are based in Europe and North America. Gilde Healthcare’s lower mid-market buy-out fund invests in profitable European healthcare services companies with a focus on the Benelux and Dach-region. The portfolio consists of healthcare providers, suppliers of medical products and other service providers in the healthcare market. Since 2001 Gilde Healthcare has raised EUR 800 million (USD 1 billion) for its specialized funds. For more information, visit the company’s website at www.gildehealthcare.com
Gilde Healthcare II is supported by the European Communities Growth and Employment Initiative, MAP – ETF Start-up Facility.