September 12, 2016 / 5:35 AM / 3 years ago

Swiss biotech firm ADIENNE says plans IPO

ZURICH (Reuters) - Swiss biotechnology firm ADIENNE said on Monday it plans to seek a listing on Switzerland’s bourse in an initial public offering.

“The proceeds from the planned IPO would further support the ongoing Phase II/III FDA and EMA registrative clinical trial of Begelomab for steroid-resistant acute Graft-versus-Host Disease, the scale up (of) the group’s manufacturing, our commercialization capabilities ahead of the launch of Begelomab and the other trials of our clinical and preclinical development programs,” Chairman and President Antonio Francesco Di Naro said in a statement.

“I plan to retain a clear majority stake in the Company and will remain fully committed to develop ADIENNE into the next phase of its corporate development.”

Lugano, Switzerland-based ADIENNE said Bank of America Merrill Lynch and Jefferies International Limited are acting as global coordinators and joint book-runners with Bank am Bellevue co-lead manager.

It did not release a timeline for the planned floatation or expectations of how it hopes to earn from the IPO.

Reporting by Joshua Franklin

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