Agendia Announces Launch of Initial Public Offering (IPO) on NYSE Euronext in Amsterdam
Geschrieben am 06-06-2011 |
Amsterdam (ots/PRNewswire) -
- Agendia Publishes Prospectus and Sets Indicative IPO Price
Range
- Not for Release, Distribution or Publication in Whole or in
Part, Directly or Indirectly, into or in The United States,
Australia, Canada, or Japan
This announcement is not a prospectus but an advertisement and
nothing herein contains an offering of securities. No one should
purchase or subscribe for any securities in Agendia except on the
basis of information in the prospectus to be published by Agendia in
due course in connection with the potential admission of such
securities to trading and listing on NYSE Euronext in Amsterdam, the
regulated market of Euronext Amsterdam N.V. (the "Prospectus").
Copies of the Prospectus will, following publication, be available
from the Company's registered office.
Agendia, a commercial-stage molecular diagnostics company with
operations in the Netherlands and the United States, today announces
details of its planned initial public offering (the "IPO" or
"Offering") and contemplated admission to trading and listing on
NYSE Euronext in Amsterdam. The Offering consists of up to 4,587,156
newly issued ordinary shares (the "Offer Shares") for an amount of
up to EUR75 million, with an over-allotment option of up to 688,073
newly issued ordinary shares, representing up to 15% of the Offer
Shares. The price range of the Offering is EUR16.35 to EUR19.15 per
ordinary share. The market capitalisation will amount to
approximately EUR225 million to EUR250 million without the
over-allotment option being exercised. The free float will
constitute up to approximately 33.3 percent after the Offering,
without exercise of the over-allotment option. The IPO will consist
of a public offering to institutional and retail investors in the
Netherlands and an international offering to certain institutional
investors.
Highlights relating to the IPO
- Agendia aims to raise up to EUR75 million in the IPO, with the
indicative price range set at EUR16.35 to EUR19.15 per share
- IPO proceeds will mainly be used to expand the sales and
marketing capabilities and activities of Agendia in the United States
- Final offer price expected to be announced on 21 June 2011 with
trading on NYSE Euronext in Amsterdam expected to begin on 21 June
under the symbol "AGDX"
- ABN AMRO and ING are acting as joint global coordinators and
joint bookrunners
- Major current (indirect) shareholders include Breedinvest,
Gilde Healthcare, ING Corporate Investments, Van Herk, Stichting
Fondsen NKI and founding management team members
- ABN AMRO has agreed to submit an order at the commencement of
the offer period to purchase Offer Shares for an amount of EUR5
million at the offer price
- Agendia has operations in both the Netherlands and the US and
currently employs approximately 100 staff (FTEs).
Commenting on today's announcement, Bernhard Sixt, Agendia
President and Chief Executive Officer, said: "The initial public
offering represents a significant step in the development of Agendia
and underscores the value of our work so far, as well as our strong
position and experience in the exciting field of cancer molecular
diagnosis and treatment. With our marketed Symphony(TM) suite that
comprises four breast cancer products today, including our lead
FDA-cleared MammaPrint(R) test, and after achieving initial coverage
and reimbursement from a number of US third-party payors, including
CMS, we believe we have a solid foundation to expand our US sales and
marketing efforts, and also more widely commercialise our tests
internationally. We believe a public listing will provide us with
flexibility to take advantage of the opportunities in the fast
growing molecular diagnostics market, and assist us in advancing our
pipeline of new tests. We look forward to improving the cancer
diagnostics arena by providing substantial benefits to patients,
physicians and payors with our product offering, whilst creating
value for all of our stakeholders."
The Offering
The IPO consists of new ordinary shares in the capital of Agendia
with a nominal value of EUR0.10 each, for an aggregate amount of up
to EUR75 million, which may be increased by 15% for the purpose of
covering over-allotments, if any, and short positions resulting from
stabilisation transactions. No minimum number of shares in the
offering has been set. The price range has been set at a minimum of
EUR16.35 and a maximum of EUR19.15 per share.
The Offering consists of a public offering in the Netherlands to
institutional and retail investors, and an international offering to
certain institutional investors. The shares are being offered (i) in
the United States, to "qualified institutional buyers" as defined in
Rule 144A ("Rule 144A") under the US Securities Act of 1933, as
amended ("US Securities Act"), pursuant to Rule 144A or another
exemption from the registration requirements of the US Securities
Act, and (ii) outside the United States, in accordance with
Regulation S under the US Securities Act.
ABN AMRO and ING are acting as joint global coordinators and
joint bookrunners (the "Joint Global Coordinators") for the IPO, with
KBC Securities and Kempen & Co acting as co-lead managers.
Offering period and pricing
The offering period (the "Offering Period") will commence on June
6, 2011 at 9.00 CET and is expected to close on June 20, 2011 at
14.00 CET. Agendia, in consultation with the Joint Global
Coordinators, reserves the right to close the Offering Period at an
earlier or later date and time. Any early closure of the Offering
Period will be announced by means of a press release. The Offering
Period will in any event be open for at least six business days from
the availability of the prospectus which has been approved by the
Netherlands Authority for the Financial Markets (Stichting Autoriteit
Financiële Markten, the "AFM").
Agendia will determine the offer price (the "Offer Price") in
common agreement with the Joint Global Coordinators on the basis of a
book-building procedure. The final size of the Offering and the Offer
Price will be determined as soon as practically possible after the
end of the Offering Period on the allocation date, which is expected
to take place on June 20, 2011. The final size of the Offering and
the Offer Price will be set out in a pricing statement that will be
deposited with the AFM and published in a press release on the first
publishing day following its determination, which is expected to be
on June 21, 2011 and which is expected to also be the first day of
trading. The shares are expected to be admitted to trading and
listing on NYSE Euronext in Amsterdam under the symbol "AGDX" as per
June 21, 2011 on an 'if-and-when-issued' basis.
Use of proceeds
Agendia intends to use the net proceeds of the IPO primarily to
expand sales and marketing capabilities and activities, particularly
in the United States, but also to a lesser extent outside the United
States, as well as to complete technical and clinical validation and
initial commercialisation of ColoPrint(R), its new colon cancer
recurrence test. Agendia plans to use the remainder of the net
proceeds to continue its research and development efforts, to fund
capital expenditures on expansion of its laboratory facilities and IT
systems, and for working capital and other general corporate
purposes.
Agendia's current product offering
Agendia's currently marketed Symphony(TM) suite of four
complementary breast cancer tests, TargetPrint(R), MammaPrint(R),
BluePrint(TM) and TheraPrint(R), provides a comprehensive support
system for oncologists to determine whether a breast cancer patient
is likely to benefit from hormonal therapy, chemotherapy and targeted
therapies, saving patients from unnecessary treatments and lowering
healthcare costs. Agendia's lead test, MammaPrint(R), currently the
only molecular diagnostic breast cancer recurrence test to have
received clearance from the US Food and Drug Administration (FDA),
gives physicians a tool to clearly and decidedly separate early stage
breast cancer patients who are at "high" risk from "low" risk of
recurrence, thereby better gauging the "high" risk patients' need for
chemotherapy.
Prospectus
The prospectus includes detailed information on Agendia and the
Offering. Any decision to purchase shares in Agendia should be made
solely on the basis of the prospectus. Upon request the prospectus
will be made available to investors, free of charge, at the
registered offices of ABN AMRO (Gustav Mahlerlaan 10, 1082 PP,
Amsterdam, the Netherlands), ING (Bijlmerplein 888, 1102 MG,
Amsterdam, the Netherlands) and Kempen & Co (Beethovenstraat 300,
1077 WZ, Amsterdam, the Netherlands). The prospectus can also be
requested via email at listing.agency@nl.abnamro.com or by telephone
at number +31(0)20 628 3566. Furthermore, the prospectus can be
obtained in electronic form from the website of Euronext
(www.euronext.com) (Dutch residents only). Lastly, the prospectus
will be made available to investors at the registered office of
Agendia (Science Park 406, 1098 XH Amsterdam, the Netherlands) as
well as on the company website (www.agendia.com).
Indicative timetable
Press conference 6 June 2011 at 11:00 CET
Bookbuilding period 6 June 2011 to 20 June 2011
Notification of pricing and allocation 21 June 2011
First trading day 21 June 2011
Last day to exercise over-allotment option 21 July 2011
About Agendia
Agendia is a commercial-stage molecular diagnostic company
focused on the discovery, development and commercialisation of
genomic-based diagnostic products to improve the quality of life for
cancer patients by providing healthcare professionals with critical
information to enable safe and effective personalised treatment. The
Company's Symphony(TM) suite of four complementary breast cancer
tests, TargetPrint(R), MammaPrint(R), BluePrint(TM) and
TheraPrint(R), provides a comprehensive support system for
oncologists to determine whether a breast cancer patient is likely to
benefit from hormonal therapy, chemotherapy or targeted therapies,
saving patients from unnecessary treatments and lowering healthcare
costs. Agendia's lead test, MammaPrint(R), currently the only
molecular diagnostic breast cancer recurrence test to receive
clearance from the US Food and Drug Administration, gives physicians
a tool to clearly and decidedly separate "high" risk from "low" risk
recurrence in early stage breast cancer patients, thereby better
gauging the "high" risk patients' need for chemotherapy. Agendia is
advancing a pipeline of new products, which includes a further
extension of its breast cancer suite of tests as well as products for
colon cancer and lung cancer. The Company's research and development
activities are driven by its deep scientific roots and supported by
collaborations with leading academic consortia, cancer centres and
pharmaceutical companies.
Agendia was founded in 2003 as a spin-off of the Netherlands
Cancer Institute and is based in Amsterdam, the Netherlands, and
Irvine, California, United States. For more information, please visit
www.agendia.com.
Disclaimer
This announcement and the information contained herein are not
for distribution in or into the United States of America (including
its territories and possessions, any state of the United States of
America and the District of Columbia) (the "United States"),
Australia, Canada or Japan. This announcement does not constitute, or
form part of, an offer to sell or a solicitation of any offer to
purchase the shares of Agendia (the "Company", and such shares, the
"Securities") in the United States, Australia, Canada, Japan or in
any other jurisdiction where such offer or sale could be unlawful.
The Securities have not been and will not be registered under the
US Securities Act of 1933, as amended (the "Securities Act"), or with
any securities regulatory authority of any state or other
jurisdiction of the United States. Consequently, the Securities may
not be offered, sold, resold, transferred, delivered or distributed,
directly or indirectly, into or within the United States except
pursuant to an exemption from the registration requirements of the
Securities Act and in compliance with any applicable securities laws
of any state or other jurisdiction of the United States. No public
offering of the Securities is being made in the United States.
This communication is only addressed to, and directed at, persons
in member states of the European Economic Area who are "qualified
investors" within the meaning of Article 2(1)(e) of the Prospectus
Directive ("Qualified Investors"). For the purposes of this
provision, the expression "Prospectus Directive" means Directive
2003/71/EC (and amendments thereto, including Directive 2010/73/EC,
to the extent implemented in the Relevant Member State) and includes
any relevant implementing measure in each member state of the
European Economic Area which has implemented the Prospectus
Directive. This document is an advertisement and not a prospectus for
the purpose of the Prospectus Directive. A prospectus prepared
pursuant to the Prospectus Directive is intended to be published,
which, when published, can be obtained from Agendia. Investors should
not subscribe for any securities referred to in this document except
on the basis of information contained in the prospectus.
In addition, in the United Kingdom, this communication is being
distributed only to, and is directed only at, Qualified Investors (i)
who have professional experience in matters relating to investments
who fall within the definition of "investment professional" in
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order"), or (ii)
who are high net worth companies, unincorporated associations and
partnerships and trustees of high value trusts as described in
Article 49(2) of the Order, and (iii) other persons to whom it may
otherwise lawfully be communicated (all such persons together being
referred to as "relevant persons"). Any investment or investment
activity to which this communication relates is available only to and
will only be engaged in with such persons. This communication must
not be acted on or relied on (i) in the United Kingdom, by persons
who are not relevant persons and (ii) in any member state of the
European Economic Area other than the United Kingdom, by persons who
are not Qualified Investors.
In connection with the Offering, one of the Underwriters (the
"Stabilising Manager") (or persons acting on behalf of the
Stabilising Manager) may over-allot shares or effect transactions
with a view to supporting the market price of the shares at a level
higher than that which might otherwise prevail. However, there is no
assurance that the Stabilising Manager (or persons acting on behalf
of the Stabilising Manager) will undertake stabilisation action. Any
stabilisation action may begin on or after the date on which adequate
public disclosure of the final price of the shares is made and, if
begun, may be ended at any time, but it must end no later than 30
days after the date of commencement of trading of the shares.
The information, opinions and forward-looking statements
contained in this release speak only as at its date, and are subject
to change without notice.
All investment is subject to risk. The price of the securities
offered may fluctuate. Past performance is no guarantee of future
returns. Potential investors are advised to seek expert financial
advice before making any investment decision.
Aan de belegging zijn risico's verbonden. De waarde van de
aangeboden effecten kan fluctueren. Rendementen uit het verleden zijn
geen garantie voor de toekomst. Potentiële beleggers wordt
geadviseerd om eerst hun eigen beleggingsadviseur te raadplegen
alvorens een beleggingsbesluit te nemen.
For further information, please contact:
Agendia
Dr. Bernhard Sixt, President & CEO
investorrelations@agendia.com
International media and investor enquiries
M:Communications
Mary-Jane Elliott / Emma Thompson
Tel: +44(0)20-7920-2345, E-mail: agendia@mcomgroup.com
Dutch media enquiries
Huijskens Communications
Ian Bickerton
Tel +31(0)20-685-5955, E-mail: i.bickerton@huijskens.nl
ots Originaltext: Agendia BV
Im Internet recherchierbar: http://www.presseportal.de
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