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NEOVACS, a specialist in immunotherapies for autoimmune and chronic diseases said the Autorité des Marchés Financiers (AMF, the French stock market regulator) approved the prospectus relating to its planned Initial Public Offering on the Alternext exchange. NEOVACS, a spin-out of Pierre and Marie Curie University, Paris, is seeking to raise approximately €20 million in new capital.
“The funds raised in our IPO should enable us to accelerate the development of our product portfolio in general and that of our most advanced compound, TNFa-Kinoid in particular. This immunotherapeutic is now moving into a Phase II clinical trial in rheumatoid arthritis. It is also scheduled to enter Phase II in Crohn's disease in the middle of this year, and already generated very encouraging interim results in this disease,” said CEO, Guy-Charles Fanneau de La Horie.
The funds will also allow the company to take its second candidate, IFNa-Kinoid into the clinic. IFNa-Kinoid is an anti-interferon alpha immunotherapy for the treatment of lupus.
The company says its Kinoid technology could form the basis for active immunotherapies in a range of other diseases.
Copies of the prospectus can be obtained from the AMF website (reference #10-055, dated 18 March 2010) or are available free of charge from NEOVACS and financial institutions authorized to receive subscriptions.
The prospectus can also be viewed on the NEOVACS website and the AMF website.
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