VC-backed Pixium floats with €100m market cap

The company settled on an IPO price of 828 cents per share and sold a total of 4.2 million new shares in the offering, raising €34.5m.

BPI France purchased shares worth €8.5m in the offering, representing an 8% stake in Pixium, while Seventure Partners, Sofinnova Partners, Abingworth Management, Omnes Capital and BPI France-managed InnoBio Fund purchased a further €8.5m of shares.

Following the IPO, Sofinnova holds a 23.2% stake in Pixium, while Abingworth owns 16.3%, Omnes holds 11.5% and Seventure holds 1.2%. BPI France now owns a shareholding of 8% in the business, while its InnoBio fund holds 12.5%.

Conditional dealing began on 18 June, with admission to the main market taking place on 23 June. The company's stock is trading under the ticker "PIX".

Previous funding
Pixium first received funding in May 2012, securing €9.5m from lead investor Omnes, as well as Abingworth, Global Life Science Ventures and Polytechnos Venture Partners, according to unquote" data.

In November last year, the company raised a further €15m in a series-B round led by Sofinnova. Existing backers Omnes and Abingworth took part in the round alongside Seventure and BPI France via its InnoBio fund.

Company
Founded in 2011 and headquartered in Paris, Pixium develops vision restoration systems (VRS). Its two implantable medical devices, Iris and Prima, are designed to treat blindness caused by degeneration of photoreceptor cells in the retina.

Pixium's VRSs are designed for blind patients whose optic nerves remain functional. They comprise three components: a retinal implant designed to provide artificial stimulation to the retinal nerve cells; a portable visual interface, which takes the form of a pair of glasses with a mini-camera; and a pocket computer that is linked to the visual interface and replaces the information-processing function of the retina using a signal processor and software.

People
Pixium's CEO is Khalid Ishaque. Abingworth partner Tim Haines, BPI France investment director Chahra Louafi, Sofinnova managing partner Antoine Papiernik and Omnes partner Alexia Perouse sit on the company's board of directors.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• Healthcare
• IPO
• France
• Seventure (SPEF)
• Sofinnova Partners
• Abingworth Management
• Omnes Capital