NicOx Plans Private Placement, Rights Issue To Raise EUR100
Million
PARIS -(Dow Jones)- French pharmaceutical company NicOx Wednesday announced
plans to raise around EUR100 million through a private placement followed by a
rights issue.
"This two-step capital increase will support NicOx in achieving its goal of
becoming a specialty pharmaceutical company, which could participate in the
future sales and marketing of naproxcinod via its own commercial infrastructure
in the United States," declared Michele Garufi, NicOx's chairman and chief
executive.
Naproxcinod is for patients with osteoarthritis of the knee and hip and has
been accepted for filing as a New Drug Application by the U.S. Food and Drug
Administration, or FDA, NicOx announced in a separate statement Wednesday.
The private placement will be for between EUR20 million and EUR30 million,
with the participation of French state owned investment fund, the Fonds
Strategique d'Investissement.
NicOx intends to launch a subsequent rights issue, which will include
preferential subscription rights for existing shareholders.
It expects to raise around EUR100 million from the private issue and the
rights issue combined.
The FSI intends to invest up to a total of around EUR25 million in the two-
step capital increase.
Company Web site: www.nicox.com
-By William Horobin, Dow Jones Newswires; +33 1 4017 1740; william.horobin@
dowjones.com
(END) Dow Jones Newswires
11-18-090227ET
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