News
Acticor Biotech completes a capital increase for a total gross amount of approximately 2.6 million euros, via the issuance of 850,360 shares
Paris, France, November 28, 2023 – 8:00 am CET - ACTICOR BIOTECH (ISIN: FR0014005OJ5 - ALACT -
the "Company"), a clinical-stage biotechnology company developing glenzocimab, a novel drug for the
treatment of cardiovascular emergencies, in particular stroke, announces today the completion of its
capital increase for a total gross amount of approximately 2.6 million euros, by issuing 850,360 new
shares at a price of €3 per share.
Gilles AVENARD, Chief Executive Officer of Acticor Biotech, said: "I would like to express my gratitude
to Mr. Rinaldo del Bono and Mr. Pierre Meyers, for their participation in this fundraising. We also
received invaluable support from institutional investors, as well as from numerous individual investors
via the PrimaryBid platform. We would like to thank them warmly for the confidence they have placed
or renewed in Acticor Biotech. Rest assured that we will continue to pursue with determination our
mission to bring to market an innovative drug for the treatment of cardiovascular emergencies."
Purpose of the funds raised
The funds raised will enable the Company to strengthen its financial structure and finance its
operations until May 2024, based on the following elements on the following basis:
• Net cash and cash equivalents (including bank overdrafts) amounting to € 7,955 K at June 30,
2023;
• Cash consumption by the Company's operations in the second half of 2023, and projected cash
consumption forecasts for 2024;
• Ability of the Company to pre-finance its 2023 CIR;
• The Company's ability to modulate its variable operating expenses as part of its trials
In addition, in view of the above-mentioned factors, the Company's financing requirements to meet
its obligations over the next 12 months are estimated at around 8 million euros.
As a result, the Company will have to seek other sources of debt or equity financing or carry out
partnership or M&A transactions as early as the first quarter of 2024, in order to supplement its
working capital requirements and finance its operating expenses beyond the second quarter of 2024.
The Company will use the proceeds of this capital increase to finalize the development plan for the
registration of glenzocimab in the emergency treatment of stroke. The Company mainly plans to use
the funds raised to finance the completion of the ACTISAVE study, with results expected in the second
quarter of 2024.