French gene therapy specialist launches €75.7M rights issue

Investment opportunity

Transgene SA has launched a rights issue to raise €75.7 million for clinical trials of its three lead programmes and to invest in its manufacturing facility.

“This capital increase will allow us to pursue the development of our broad product portfolio and prepare Transgene’s transition from a research and development company to a fully fledged biopharmaceutical company,” said Philippe Archinard, CEO.

The subscription price for new shares has been set at €18.25 per share.

Transgene’s largest shareholder, TSGH (a member of the Merieux–Alliance group in Paris), which holds 52.4 per cent of the outstanding shares, intends to subscribe to 55 per cent of the new shares. 

Strasbourg-based Transgene has one product which has completed phase II trials (TG4001 / R3484), two compounds in phase II trials (TG4010 and TG1042) and one compound in phase I studies (TG4040). The company has a partnership with the Swiss pharma group Roche for the development of its TG400 /R3484 therapeutic vaccine to treat diseases caused by human papilloma virus.