Molecular Partners

Joint Bookrunner

Kempen & Co is pleased to announce that it acted as Joint Bookrunner in Molecular Partners’ CHF 80.2m Accelerated Bookbuild Offering

Transaction highlights

Molecular Partners raised CHF 80.2m, representing approximately 25% of the company's share capital prior to announcement
Strong demand from select US investors served as an anchor for the deal which priced at CHF 14.50, a tight 2.8% discount to the share price prior to announcement
The offering included participation by new and existing institutional investors in Switzerland, the US and the EU, including Suvretta Capital Management, LLC, Camber Capital Management LP, BVF Partners L.P., Federated Hermes Kaufmann Funds and Monashee Investment Management LLC
Proceeds from the transaction will help Molecular Partners accelerate development of its SARS-CoV-2 antiviral candidate MP0420, as well as its early stage clinical and preclinical oncology assets
This transaction builds on the longstanding relationship between Molecular Partners and Kempen & Co including in 3Q19 a major block trade of c. 5% of the company’s then outstanding share capital executed by Kempen & Co's Trading Desk
This also marks the first ECM transaction for the Kempen & Co Life Sciences franchise for a Swiss company, underpinning our pan-European approach

Company description

Molecular Partners is a clinical-stage biotech company developing a new class of custom-built proteins known as DARPin® therapeutics, designed to address challenges current modalities cannot. The company has compounds in various stages of clinical and preclinical development with a focus on oncology. Molecular Partners has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics across multiple therapeutic areas.

Background Kempen & Co Life Sciences & Healthcare

Over the past year, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:

Co-Manager in the USD 600 million Capital Increase by Ascendis Pharma
Financial advisor in Immatics’ business combination with Arya Sciences Acquisition Corp., thereby becoming a Nasdaq listed company and securing USD 253 million
Joint Global Coordinator and Joint Bookrunner in the €61.8 million Initial Public Offering by Hyloris Pharmaceuticals
Joint Bookrunner in the €20.0 million Capital Increase by Oryzon Genomics
Joint Global Coordinator and Joint Bookrunner in the SEK 487 million Capital Increase by BioInvent
Joint Global Coordinator and Joint Bookrunner in the c. SEK 400 million Capital Increase by Immunovia
Co-Manager in the USD 862 million Global Offering by argenx
Joint Bookrunner in the SEK 1,414 million Capital Increase by Oncopeptides
Co-Manager in the USD 154 million Global Offering of DBV Therapeutics
Joint Global Coordinator and Joint Bookrunner in the €19.0 million Capital Increase by Sequana Medical
Lead Manager in the USD 557 million Global Offering by argenx
Co-Manager in the USD 79.2 million US Public Offering by Merus
Co-Manager in the USD 57.5 million Capital Increase by ProQR
Co-Manager in the USD 150 million Nasdaq IPO of BioNTech
Sole Bookrunner in the €9.0 million Capital Increase by MDxHealth
Co-Manager in the USD 20.0 million Global Offering of Celyad
Co-Manager in the USD 582 million NASDAQ IPO of Genmab