Nicox took up New Market

Known as a start-up working in biotechnologies, the firm issued 1.5 million shares quoted at 20 euros a share, on the New Market of the Paris Bourse.

This time it is done. On Wenesday November 3, for the first time, the start-up from Sophia-Antipolis, NicOx was quoted on the New Market of the Paris Bourse. The French company of pharmaceutical research and development, whose headquarters are in Sophia Antipolis, was floated, known as NicOx (sicovam code: 7413). Over 180 million francs were taken up. In all, 1 500 000 new shares were issued on the basis of 20 euros a share. The bid was done as a lump investment controlled by the CSFB (Crédit Suisse First Boston (Europe) Limited) as the leader and the market introducer-maker, and by the Société Générale, as the co-leader and the co-market introducer-maker.In a press release, NicOx announced that 'the company net proceeds from the bid were about 27.4 euros out of the option of higher allotment, that is to say about over 180 million francs. NicOx plans on using about 90% of the capital that it took up, for its research and development activities. Within the thirty days following the first quotation of NicOx, in view to hedge the potential higher allotments, the CSFB, as the leader of the operation, could exercise an option on the subscription of a maximum of 225000 further new shares, exercisable at the rate of the bid.Set up in Sophia-Antipolis, NicOx was created in 1996. It uses the characteristics, recently found, of the Nitric Oxide (NO) for the development of new medicines. The products that it has developed are likely to involve less side effects and to show an higher efficiency than the medicines currently available. The first investors are: Apax Partners, Sofinnova Partners, European Medical Ventures, HealthCap AB and Paribas.