• Capital increase to finance EU-wide product launch of co.don chondrosphere(R)
• Subscription period: 4 November 2015 to 18 November 2015
• Subscription ratio: 11:2, subscription price: Euro 2.00 per share
• Cash capital increase by issuing up to 2.5 new million new shares
• Gross issue proceeds of approx. EUR 5 million aimed at
Teltow, 3 November 2015 - co.don AG (ISIN DE000A1K0227) will be offering its shareholders two new shares at a subscription price of Euro 2.00 each for each eleven shares already held in the period from 4 November 2015 up to and including 18 November 2015. This measure should provide the company with gross issue proceeds of up to Euro 4,989,952.00. These funds are to be channelled into preparatory measures for the European product launch of co.don chondrosphere(R).
By executing this capital increase, the company will increase its share capital by up to Euro 2,494,976 from its current volume of Euro 13,722,368 to up to Euro 16,217,344 by drawing on part of its 2013 Authorised Capital and issuing up to 2,494,976 new no-par bearer shares. Any new shares not subscribed on account of statutory subscription rights and of oversubscription by shareholders are to be offered to select investors for purchase in the context of a private placement. The complete rights offer can be downloaded from the company’s website at www.codon-capital.de and was also published today in the Federal Gazette ( Bundesanzeiger ).
Dirk Hessel, CEO of co.don AG, outlines the reasons for the capital measure: ‘We expect to receive EU-wide market approval for co.don chondrosphere(R) at the end of 2017. By then, we aim to be prepared for the European product launch. We estimate the market volume available to us at between Euro 450 million and Euro 675 million a year.’ The preparatory measures include compiling country-specific market analyses, expanding the company’s network, addressing medical opinion makers in Europe and preparing pre-marketing studies and training. To account for the expected rise in demand, co.don AG also intends to invest in optimising and automating its production and logistics processes. In Germany, where the drug is already approved, an extensive package of marketing measures is about to be implemented in parallel. These include stepping up existing customer relationships and extending sales activities to win over new doctors.
The cash capital increase will be accompanied by SCHNIGGE Wertpapierhandelsbank AG as the issue leader.
About co.don AG:
Based near Berlin, co.don AG develops and produces autologous cell therapies for use in the minimally invasive repair of articular cartilage damages resulting from traumatic or degenerative defects and markets these therapies in Germany. co.don chondrosphere (R) is a cell therapy product that works exclusively with autologous cartilage cells. co.don chondrosphere (R) has German approval provided by the German Higher Federal Authority PEI pursuant to §4b of the German Pharmaceuticals Act (AMG) and is currently being tested in two Phase II and III clinical studies aimed at obtaining EU-wide approval. co.don chondrosphere (R) has been used for more than 10 years at more than 120 hospitals and with more than 8,000 patients. In Germany, treatment costs have been paid for by health insurers since 2007 in the case of knee and hip joints and since 2008 for spinal discs.
co.don AG shares are listed on Frankfurt Stock Exchange (ISIN: DE000A1K0227).
Management Board: Dirk Hessel (CEO) and Vilma Methner (COO, CSO).
Further information is available at www.codon.de
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