Paragon-backed Apontis Pharma announces IPO intention

The company plans to raise proceeds of €40m from the IPO, with a total offering of €100m from the placement of existing shares and an overallotment option. The proceeds will be used to finance the company's growth strategy, including the development and licensing of its product pipeline.

Hauck & Aufhäuser will act as sole global coordinator, while MM Warburg has been mandated as joint bookrunner.

Based in Monheim am Rhein, Apontis produces single pills, principally for the treatment of cardiovascular diseases, with a current portfolio of eight pills that have been brought to market since 2013. The company posted 2020 revenues of €39.2m and anticipates 2021 revenues of €48.5m. The business generated revenues of €52.9m in 2016. The company has a sales force of 130 people and employs 190 staff in total.

Paragon acquired Apontis (then known as UCB Innere Medizin) in August 2018 from Belgium-based UCB. The GP invested via Paragon Fund II, which held a final close in July 2014 on €412m and made equity investments of €30-150m.

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