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Joining Euronext’s regulated market in Paris (compartment C).
EnterNext, the Euronext subsidiary designed to promote and grow its market for SMEs, has admitted TxCell, a French biotechnology company specialising in immunotherapies for the treatment of chronic inflammatory and auto-immune diseases, to its index.
TxCell joined Euronext’s regulated market in Paris (compartment C).
Founded in 2001, TxCell is a biopharmaceutical company based in Sophia Antipolis in southern France. It is developing a new generation of personalised cell-based immunotherapies that use the patient’s own cells to treat severe chronic inflammatory and auto-immune diseases. Through its patented production process, TxCell makes this type of cell therapy economically viable for the first time. Its first candidate drug Ovasave®, now in clinical development, targets patients suffering from Crohn’s disease who are refractory to existing treatments—an estimated 80,000 to 100,000 people a year representing a potential market estimated at around €3 billion. The company’s second candidate drug is Col-Treg, now under development for the treatment of auto-immune uveitis, a rare disease that is one of the main causes of blindness in the industrialised world and whose sufferers currently have a very limited range of therapeutic options.
TxCell (ticker symbol: TXCL) was listed through the admission to trading of 7,860,467 existing shares making up the company’s equity and 2.903.226 new shares issued under a Global Offering[2].
The admission and issue price of TxCell shares was set at €5.58 per share. The company’s market capitalisation stands at around €63.6 million and a total €16.2 million was raised.
Eric Forest, Chairman and CEO of EnterNext, said: “We welcome TxCell, the seventh life sciences company to join Euronext markets since the beginning of the year. Innovative companies are structures with major growth potential. EnterNext’s aim is to promote the range of financing solutions available on the Bourse and encourage contacts between investors and these companies that are seeking the resources they need to pursue development.”
Damian Marron, TxCell’s Chief Executive Officer, added: “I am delighted with TxCell’s successful listing on Euronext, where the segment dedicated to health-related companies has grown steadily and increased its international reach. I would like to thank our historical shareholders Bpifrance and all of those who have joined our innovative and unique drive to improve the lives of thousands of patients suffering from inflammatory and auto-immune illnesses such as Crohn’s disease.”
