INvestment Finance MoneyForbion Capital Partners, the leading Dutch Venture Capital firm investing in world-class healthcare technologies, is proud to announce that two of its portfolio companies, Pieris Pharmaceuticals and Cellnovo Group SA completed their respective Initial Public Offerings on Nasdaq and Euronext Paris.

On 7 July, Pieris closed its Nasdaq public offering of 9,090,909 shares of its common stock at a public offering price of $2.75 per share. Initial gross proceeds of the offering by Pieris were $25 million. Subsequently, on 28 July, Pieris closed the sale of an additional 1,211,827 shares of its common stock at the public offering price of $2.75 per share pursuant to the over-allotment option exercised by the underwriters taking total gross proceeds to Pieris from the offering to $28.3 million before deducting the underwriting discounts, commissions and estimated expenses.

Pieris intends to use the net proceeds from the offering to fund research and development, including preclinical and clinical research and development of its drug candidates, working capital and general corporate purposes. Oppenheimer & Co. and JMP Securities acted as joint book-running managers for the offering. Roth Capital Partners and Trout Capital acted as co-managers of the offering.

On 9 July, Cellnovo completed its Initial Public Offering in compartment C of the Euronext regulated market in Paris, raising EUR 31.56 million through a capital increase. On July 16, Cellnovo issued 80,000 additional new shares at the offer price of €10.63 per share increasing total gross proceeds from the offering to EUR 32.4 million before deducting the underwriting discounts, commissions and estimated expenses.

Cellnovo intends to use the proceeds for further roll-out of its innovative the first connected all-in-one diabetes management system and disruptive insulin pump technology in Europe and general corporate purposes. CM-CIC Securities and Societe Generale acted as lead managers and book runners together with Canaccord Genuity as joint lead manager. ODICÉO and SPONSOR Finance advised Cellnovo on the offering.

Holger Reithinger, General Partner at Forbion commented: “It is fantastic to see Pieris as a German biotech company successfully make its way onto Nasdaq. Having access to the world’s deepest and most sophisticated pool of public capital will allow the company to develop its portfolio in an accelerated fashion. Cellnovo’s listing on Euronext Paris is also an important step in its plans to successfully commercialize its diabetes management system. Both companies have been supported by Forbion for many years.”