News
New listing of the company PURE BIOLOGICS
The company PURE BIOLOGICS S.A. was newly listed on the GPW Main Market on 14 December 2020.
PURE BIOLOGICS S.A. is the 432nd company listed on the Main Market and the fourth new listing on the Main Market in 2020.
Key information
|
company name |
PURE BIOLOGICS S.A. |
|
companies on the market |
432 |
|
new listings in 2020 |
4 |
|
market (main/parallel) |
parallel (transferred from NC) |
|
business sector |
biotechnology |
|
companies in the sector |
7 |
|
seat |
Wrocław |
|
Polish/foreign (other trading markets) |
Polish |
|
core business |
research as well as research and development (R&D) to identify and test molecules which could be the starting point of new medicinal therapies or drugs; at the same time, the Company uses its resources to offer research services as a contractor |
|
offering/sale |
Public offering of 600,000 series E ordinary bearer shares at PLN 90 per share |
|
public offering value: |
Public offering value: PLN 54 million |
|
reference price |
Closing price on NC as at 11 December 2020 |
|
company valuation* |
PLN 159.4 million (before the registration of series E shares) PLN 217.22 million (after the registration of series E shares) |
|
valuation of introduced instruments* |
PLN 217.22 million |
|
% free float (under 5% of shares subject to the application) |
68.50% in rights to shares 37.91% in shares before the issue of series E shares 50.24% in shares after the issue of series E shares |
|
free float value* of shares subject to the application |
PLN 39.61 million in rights to shares PLN 60.43 million in shares (before the registration of series E shares) PLN 109.12 million in shares (after the registration of series E shares) |
|
% free float of all shares (under 5%) |
68.50% in rights to shares 37.91% in shares before the issue of series E shares 50.24% in shares after the issue of series E shares |
|
free float value* of all shares |
PLN 39.61 million in rights to shares PLN 60.43 million in shares (before the registration of series E shares) PLN 109.12 million in shares (after the registration of series E shares) |
|
Offering Co-ordinator and Investment Firm |
Dom Maklerski Banku Ochrony Środowiska S.A. |
|
Legal Advisor |
Gessel, Koziorowski sp. k. |
|
Auditor |
B-think Audit sp. z o.o. |
|
Financial Advisor |
Navigator Capital S.A. |
*as at the average price of Company shares in the NC ATS in the last three months before the submission of the application for introduction, i.e., PLN 96.37
The Issuer’s history and core business
The Company was established in 2010 as a specialised biotechnology company providing contractual research services and developing proprietary technology platforms based on the concept and experience of its founder shareholders. The successful development and implementation of proprietary platform technology enabled the Company to conceptualise therapy programmes. As a result, its business model changed in 2017: a model based primarily on services was replaced by research and development, building value and generating future revenue from created intellectual property (intangible assets). As a result, the Company became a biopharmaceutical company which specialises in research and development including innovative biological drugs, medical devices for therapies and diagnostic tests.
The Company’s core business is research as well as research and development (R&D) to identify and test molecules which could be the starting point of new medicinal therapies or drugs. At the same time, the Company uses its resources to offer research services as a contractor.
In its proprietary research and development, the Company specialises in the development of innovative biological drugs and medical devices for therapies. Its R&D focuses on testing of molecules (proteins, nucleic acids – aptamers) and their applications in specific environments and conditions. The Company targets projects which develop active molecules as first-in-class drugs and therapies. That mitigates the risk that competitors may earlier obtain positive results in the development of drugs with similar or identical active mechanisms.
The Company offers research as a service (contracted research) including the selection of active molecules for medical applications (antibodies and aptamers), the production, purification and analysis of recombined proteins and the development of measurement methods.
Proprietary and contracted research takes place in a state-of-the-art facility housing laboratories, office space and auxiliary premises, situated within the Wrocław Technology Park and covering a total area of approx. 1 thousand m2. The Company has over 90 specialists on staff, including over 40% staff with PhDs.
The quality of research relies on an ISO 17025 quality management system which covers the labs as well as a data management and records IT system which ensures that all aspects of research projects are precisely controlled.
The Company’s shares have been traded in the NewConnect Alternative Trading System since 11 December 2018.
Public offering:
In the public offering, the Issuer offered 600,000 series E shares at the issue price of PLN 90 per share. In total, 600,000 shares with a par value of PLN 0.10 per share were taken up and paid. The shares were allotted in the following Tranches:
- 100,000 shares in the Retail Tranche, allotted in the GPW system, subscription reduction rate 91.278%;
- 500,000 shares in the Institutional Investor Tranche.
Public offering value: PLN 54,000,000.
In the Offering, shares were allotted to 2,362 Investors, including 2,293 Investors in the Retail Tranche and 69 Investors in the Institutional Investor Tranche.
2,254,000 series A, B1, B2, C, D and E ordinary bearer shares and 600,000 rights to series E shares with a par value of PLN 0.10 per share issued by PURE BIOLOGICS S.A. were admitted to trading on the GPW parallel market, including:
- 185,400 series A ordinary bearer shares,
- 296,500 series B1 ordinary bearer shares,
- 544,100 series B2 ordinary bearer shares,
- 146,410 series C ordinary bearer shares,
- 481,590 series D ordinary bearer shares,
- 600,000 series E ordinary bearer shares (admission conditional on the registration of the increase of the Company’s share capital)
and - 600,000 rights to series E ordinary bearer shares.