Transgene launches a fundraising campaign for approximately 105 million euros

Core Points - Transgene is launching a fundraising initiative to raise approximately €105 million through the issuance of new shares, targeting specialized investors via private placement and retail investors through the PrimaryBid platform [2][6] - The company aims to accelerate the development of its myvac® platform, particularly the individualized cancer vaccine TG4050, which has shown promising results in patients with operable head and neck cancer [4][5] - The funds raised will extend the company's financial visibility until early 2028, allowing for ongoing clinical trials and preparation for potential pivotal trials [6][8] Fundraising Details - The fundraising consists of a private placement for institutional investors and a public offering for retail investors, with TSGH committing to invest at least €70 million [11][14] - The private placement and PrimaryBid offering will close on November 26, 2025, with trading of Transgene shares suspended on that day [6][32] - The net proceeds from the fundraising will be allocated primarily to the myvac® program (approximately 70%), followed by R&D costs (approximately 20%), and general operational expenses [7][8] Financial Position - Prior to the fundraising, Transgene had €11.1 million in cash and a drawing capacity of €8.7 million on its Current Account Advance [9] - Following the fundraising, the company expects to meet its working capital requirements until early 2028, significantly improving its financial stability [10][8] - The Reserved Capital Increase of approximately €39.4 million will be executed at the same price as the private placement, converting debt into equity and strengthening the company's balance sheet [34][36] Expected Milestones - Key milestones for the myvac® platform include follow-up data from ongoing trials in head and neck cancers, with significant data expected in 2026 and 2027 [13] - The company plans to launch a Phase 1 trial in a new indication once financing conditions are met, with preparations for late-stage trials expected to conclude by the end of 2027 [12][13] Shareholder Structure - As of the date of the press release, TSGH holds 68.87% of the company's share capital, and after the fundraising, its stake is expected to decrease slightly to 68.06% [28][29] - The fundraising will result in dilution for existing shareholders, with the shareholding percentage for a shareholder holding 1% of the capital before the fundraising expected to drop to approximately 0.63% post-issuance [27]