VC-backed arGEN-X announces IPO plans

The offering will consist of new shares in an attempt to raise fresh capital, the company said in a statement. KBC Securities and Kempen & Co have been appointed joint global coordinators and joint bookrunners, while Petercam is acting as co-lead manager.

arGEN-X is backed by a large syndicate of venture capital firms, comprising PMV, Omnes Capital, Forbion Capital Partners, BioGeneration Ventures, the Erasmus Biomedical Fund, Thuja Capital, OrbiMed Advisors, Seventure Partners, Life Sciences Partners (LSP) and VIB.

The company most recently secured a €5m investment from PMV as an extension of its series-B round, which took place in December 2011 and was led by OrbiMed and Seventure.

The first part of the series-B saw all backers mentioned (aside from PMV) invest €27.5m in the company.

Prior to its two-part series-B, arGEN-X raised a total of €12.5m in a two-part series-A round. In September 2009, the company secured €9.5m from Forbion, LSP, KBC Private Equity, BioGeneration, Erasmus and Thuja. Forbion and LSP led the round.

The following April, arGEN-X received a further €3m in an extension of its series-A from Omnes and VIB.

Founded in 2008, arGEN-X is headquartered in Breda with an additional office in Ghent, Belgium. The company develops human therapeutic antibodies for the treatment of diseases including cancer, rheumatoid arthritis and atopic dermatitis. Its CEO is Tim Van Hauwermeiren.

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• Topics
• Benelux
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• Netherlands
• Euronext
• IPO
• Omnes Capital
• Seventure (SPEF)