TME Pharma Celebrates Successful €2.6M Public Offering Results

TME Pharma's Successful Public Offering

TME Pharma N.V. (Euronext Growth Paris: ALTME), a clinical-stage biotechnology company dedicated to developing innovative cancer therapies, has announced the successful completion of its capital increase with a gross amount of €2.6 million. This financing was executed through a public offer that did not give preferential subscription rights to shareholders. Instead, it was exclusively for the company’s shareholders determined as of the record date. Remarkably, 77.52% of this public offer was subscribed by existing shareholders utilizing their pro rata rights.

Shareholder Response and Confidence

Aram Mangasarian, CEO of TME Pharma, expressed his gratitude towards shareholders for their sustained support, which clearly highlights their confidence in the company’s trajectory. The overwhelming participation rate is viewed as a testament to TME Pharma's potential and future strategy. This financial bolstering will enable the company to concentrate on its key endeavors related to NOX-A12 and NOX-E36, the latter aimed at several discussions for licensing and financing opportunities.

Key Details of the Offer

During this public offering, approximately 52,000,000 new ordinary shares were issued at a price of €0.05 each. This issuance signifies 55.21% of the company’s total share capital post-transaction. The proceeds from this public offering will facilitate further development and research activities, including the continuation of the NOX-A12 GLORIA trial aimed at glioblastoma patients.

Allocation of Proceeds

The net proceeds from this successful public offering allow TME Pharma to maintain financial flexibility through June 2025. The capital is strategically allocated in three main areas: about one-third will support ongoing research, development, and regulatory activities. Another one-third will cover corporate administrative needs, while the remaining funds will assist in pursuing out-licensing and strategic transactions for both the NOX-A12 and NOX-E36 projects.

Insights Into Therapeutic Development

NOTABLE highlights from TME Pharma's advancements include significant improvements in survival rates for patients suffering from glioblastoma when treated with NOX-A12 alongside standard therapies. Notably, NOX-A12 has received fast-track status from the US regulatory agencies, alongside orphan drug designations in both the US and the EU, paving a favorable clinical development path.

Strategic Focus on Future Initiatives

Additionally, TME Pharma is excited about NOX-E36, which targets ophthalmologic conditions with a considerable market opportunity. The company anticipates finalizing strategic transactions for these projects, which they believe will add significant value for shareholders.

Understanding Shareholder Dilution

As a result of the capital increase, the overall share capital will now consist of 94,185,851 ordinary shares. Participation from guarantor investors in this public offering was fully secured, ensuring that even with the guarantee commitments, no individual crossed the 50% ownership threshold, thereby maintaining a diverse shareholder structure.

About TME Pharma

TME Pharma focuses on pioneering therapies targeting the tumor microenvironment, along with the cancer immunity cycle. Its lead candidate, NOX-A12, is currently in clinical evaluation for newly diagnosed glioblastoma patients who stand to gain no benefit from standard chemotherapy methods. The company's innovative approach seeks to shatter tumor defenses, thereby integrating with various treatments to bring about more effective therapeutic outcomes.

Frequently Asked Questions

What is TME Pharma known for?

TME Pharma specializes in developing therapies focused on cancer treatment, mainly targeting the tumor microenvironment to boost patient immunity against aggressive cancers.

How much was raised in the public offering?

The recent public offering successfully raised €2.6 million for TME Pharma.

What will the offering proceeds be used for?

The funds will be allocated towards research and development, corporate operations, and strategic transactions for key drug candidates like NOX-A12 and NOX-E36.

What is NOX-A12?

NOX-A12 is TME Pharma's lead drug candidate currently undergoing clinical trials for treating glioblastoma, showcasing promising early results.

What future actions does TME Pharma plan?

TME Pharma aims to pursue strategic partnerships and licensing discussions to advance its drug development programs, adding substantial value to its shareholders.

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