• all available shares sold in full
• capital increase 34% oversubscribed
• gross emission proceeds of EUR 4,989,952
Teltow, 26 November 2015 - co.don AG (ISIN DE000A1K0227 / WKN A1K022) has successfully completed the capital increase voted on 30 October 2015 to finance preparations for the European product launch of co.don chondrosphere(R). The capital increase involved the sale of 2,494,976 new shares to existing shareholders and new investors. It increases the share capital of co.don AG to EUR 16,217,344. New shares will be delivered once the capital increase has been entered in the commercial register, the collective custody has been set up and the new shares have been listed on the exchange, which is expected to be from 4 December 2015. Altogether, total gross proceeds of EUR 4,989,952 were raised. The share issue was oversubscribed by 34%.
“I thank our shareholders for their confidence and particularly welcome the new investors in co.don AG. The strong interest in the capital increase is an important acknowledgement of our operational progress and shows great support for our accelerated sales and authorisation strategy. With this funding we are now able to advance the preparations for the European product launch at full speed. In the fourth quarter we have already seen the initial results of our sales offensive in Germany over recent months”, said Dirk Hessel, CEO of co.don AG.
Lead manager for the cash capital increase was SCHNIGGE Wertpapierhandelsbank AG.
About co.don AG:
Berlin-based co.don AG develops, produces and markets in Germany autologous cell therapies for the minimally invasive repair of cartilage damage to joints following traumatic or degenerative defects. co.don condrosphere(R) is a cell therapy product that uses only the patient’s own cartilage cells (“autologous chondrocytes”). co.don condrosphere(R) has been approved by the German federal agency PEI in accordance with Section 4b of the German Pharmaceuticals Act (AMG) and is currently undergoing Phase II and III clinical trials to obtain European marketing authorisation. co.don condrosphere(R) has been used for more than 10 years in over 120 clinics to treat more than 8,000 patients. In Germany the statutory health insurance companies have paid for the treatment of knee and hip joints since 2007 and for the treatment of vertebral joints since 2008.
The shares in co.don AG are listed on the Frankfurt Stock Exchange (ISIN: DE000A1K0227).
Executive Board: Dirk Hessel (CEO) and Vilma Methner (COO, CSO)
Further information is available from www.codon.de
