SynAct Pharma's acquisition of TXP Pharma and PIPE
Van Lanschot Kempen acted as Sole Financial Adviser in SynAct Pharma’s acquisition of TXP Pharma and Joint Global Coordinator & Joint Bookrunner in SynAct Pharma’s SEK 80m PIPE.
Transaction highlights
- SynAct Pharma announced the acquisition of TXP Pharma, a Swiss biotech company researching and developing pharmaceutical drugs for the treatment of autoimmune and inflammatory diseases. The fixed purchase price amounts to SEK 136 million and a potential additional SEK 55 million. The fixed purchase price is paid through newly issued shares in SynAct at a price of SEK 62.60, corresponding to the 30-day VWAP
- The completion of the TXP Pharma acquisition is subject to approval by the EGM which is planned to be held on 12 January 2022
- In conjunction with the acquisition of TXP Pharma, SynAct carried out a SEK 80m Directed Share Issue via PIPE at a subscription price of SEK 62.60 per share
- The PIPE was fully subscribed for through companies controlled by Thomas von Koch and Christian Kinch
- SynAct intends to use the net proceeds for the development of assets acquired from TXP as well as further strengthening the development activities related to AP1189
- Following the Joint Global Coordinator role in the capital increases of February 2021 (Directed Share Issue) and March 2022 (Guaranteed Rights Issue SEK 150m), Van Lanschot Kempen is proud to have assisted SynAct as a repeat client on a further capital increase and a first acquisition
Company description
SynAct Pharma is a publicly listed Swedish biotech company, focused on resolving inflammation with melanocortin biology. Lead candidate, AP1189, selectively stimulates the melanocortin receptors involved in anti-inflammatory and pro-resolution effects without causing immunosuppression and is studied in three Phase II clinical programmes in rheumatoid arthritis, idiopathic membranous nephropathy and virus-induced respiratory insufficiency.
Background Van Lanschot Kempen Life Sciences & Healthcare
In the last twelve months, Van Lanschot Kempen has successfully completed a significant number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:
- Joint Global Coordinator and Joint Bookrunner in the SEK 416 million Capital Increase by Hansa Biopharma
- Joint Bookrunner in the SEK 200 million Accelerated Bookbuild Offering by Vicore Pharma
- Joint Bookrunner in the SEK 148 million Fully Guaranteed Rights Issue by Biovica
- Sole Financial Adviser to GenSight Biologics in securing a €35 million credit facility from the European Investment Bank
- Joint Global Coordinator & Joint Bookrunner in the SEK 170 million Accelerated Bookbuild Offering by Xbrane Biopharma
- Co-Lead Manager in the DKK 786 million Capital Increase by Zealand Pharma
- Financial Advisor in the sale of Sanquin Reagents by Sanquin Health Solutions to Gilde Healthcare
- Financial Advisor in the up to SEK 250 million (convertible) debt financing by Mendus
- Joint Global Coordinator in the SEK 299 million Directed Share Issue via PIPE by BioInvent
- Sole Global Coordinator in the SEK 200 million financing consisting of a SEK 150 million Directed Share Issue via PIPE and a SEK 50 million Fully Guaranteed Rights Issue by Abliva
- Joint Global Coordinator & Joint Bookrunner in the SEK 150 million Fully Guaranteed Rights Issue by SynAct Pharma
- Financial adviser in the spin-out and Capital Increase of InnoSIGN
- Co-Manager in the USD 806 million Capital Increase by argenx
- Sole Block Placing Agent in the placement of 1.4 and 1.3 million Molecular Partners shares