The Belgian biopharmaceutical sector, already regarded as one of the areas of activity least affected by the coronavirus crisis, is regaining all its dynamism. The Liège-based company Hyloris Pharmaceuticals has just unveiled its intention to be listed on Euronext Brussels, the first announcement of this type since the start of the deconfinement.
Founded and managed by Flemish entrepreneur Stijn Van Rompay, Hyloris develops pharmaceutical products with the aim of bringing high value-added reformulated medicines to the market as quickly as possible.
At the end of April, the Liège-based biotech company closed a private fund-raising round of $16.8 million (€15 million) with a mix of new and existing investors, including Scorpiaux (the financial holding company of real estate entrepreneur Bart Versluys), the Liège-based investor Noshaq, Saffelberg Investments and Nomainvest (the holding company of the Noël family).
If you want to find out more about Hyloris plans to be listed on Euronext Brussels and to read the latest financial headlines, download our companion app Born2Invest.
The company’s management team is already looking for the final phase
However, its leaders are already looking further ahead. “We realized that there was a demand from a number of investors to get into the company’s capital and we reserved the possibility of extending the raising of financing,” said Patrick Jeanmart, who has just joined the company as chief financial officer (CFO). “We have launched a process with a banking syndicate and we have reached the final phase since we have had confirmation of the interest of these investors. So we decided, in consultation with the banks, to go ahead with the IPO,” he added.
The company is currently engaged in the drafting of the prospectus with the French Financial Services and Markets Authority (FSMA). In concrete terms, a period of four to five weeks should intervene between the company’s announcement and the listing of the first shares. The estimated objective of raising via the IPO is around $56 million (€50 million).
The funds will be used to continue the development of the company’s product candidates
“The IPO should provide us with the resources to fund the development of our current portfolio of product candidates, as well as to establish a commercial infrastructure in the US for our cardiovascular portfolio, where we will focus on specialty care facilities such as hospitals,” said CEO Stijn Van Rompay. “The IPO is also expected to help us expand our portfolio in the coming years.”
Hyloris already has twelve product candidates at different stages of development in its portfolio, which should be marketed in the next four to five years, primarily in the USA. It also has two products in the US: one for the treatment of atrial fibrillation, developed in partnership with AltaThera, and the other is a non-opioid analgesic for the treatment of pain, co-owned with AFT Pharmaceuticals.
The strategy of the Liège biotech company is based on US regulations (and its European counterpart) applying to drugs for which the safety and efficacy of specific molecules have already been demonstrated. This procedure concerns, for example, medicines with new dosages or administered differently. It may also concern an extension of the indication.
The company employs a dozen people and the team might double
“With fifty million, as long as we get to that level, it offers a lot of opportunities. This is all the more true since the company could bring products to market fairly quickly and its financial situation should improve fairly quickly because it is likely to generate profit.”
The Liège-based company currently employs a dozen people, a figure that should double by the end of the year. “Production will be outsourced because our products cannot be described as niche products for millions and millions of people. On the other hand, we intend to use manufacturing units here in Belgium and Wallonia, or elsewhere. But it is premature to talk about this because we do not yet have agreements with subcontractors. We also outsource research and development as well as clinical studies, which are bioequivalence studies, to Belgian or foreign partners and subcontractors,” concluded Patrick Jeanmart.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in L’Echo, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The crowdfunding equity platform ClubDealOnline launches ‘Round as a Service’
Thanks to the new service "RaaS", the ClubDealOnline portal will allow to launch capital raising rounds reserved to companies that...
XRApplied helps David take on Goliath: Walmart-style supply chains for SMEs
Retailing giants like Walmart and Amazon have an unfair advantage over their smaller competitors—their supply chains. With centralized databases and...
SparingVision closes a €44.5 million round and gives entry to Ysios Capital
SparingVision has recently closed a financing round during which it managed to raise $52.7 million (€44.5 million). The resources will...
How can HRD pave its way in the evolving world of FinTech?
Indian FinTech companies have consistently shown that the companies are either on Merchant Payment, Consumer Payment, Lending and finance, or...
What types of licenses for the production of cannabis will be granted in Ecuador
Ecuador is committed to be a part of the billion dollars cannabis market and has recently put in place a...
Featured7 days ago
Which fintech company raised the most funds in Q3 2020?
Africa5 days ago
Fruitbox Africa: Frankfurt investor and Siemens to create jobs in Ethiopia
Cannabis7 days ago
Medical cannabis to be reimbursed in France from March 2021
Featured6 days ago
HSBC survey shows investors’ interest in ESG is increasing