+++ Up to 2.6 million new shares to be issued at a subscription price of €1.90
+++ Funding for European approval
+++ Positive share performance
Teltow, 28.04.2014 - Capital increase at co.don AG: the biopharma company is issuing up to 2.6 million new shares at a price of €1.90, increasing the company`s share capital by up to €13,722,368. The subscription period begins on 28 April 2014. Subscription rights are being granted in a ratio of 17 to 4: existing shareholders have the opportunity to buy four new shares at a price of €1.90 for every seventeen shares they already hold. Shareholders are also entitled to place purchase orders for additional shares when they buy the new securities. Other third parties can also order new shares on the same terms. Distribution to new investors is being lead managed by SCHNIGGE Wertpapierhandelsbank AG, Düsseldorf. The statutory subscription period ends on 13 May 2014.
The price of the co.don AG share has performed well in recent months. Half a year ago the share was trading at below one euro, but has now settled at around the 3 euro mark. This distinct improvement is partly due to the national marketing authorisation for the patented pharmaceutical product co.don chondrosphere® granted in December 2013 by the Paul Ehrlich Institute, the relevant federal German authority, but also to increased communications between the biopharma company and its shareholders. CEO Dr. Andreas Baltrusch will give presentations on co.don AG at two capital market conferences in Munich ("Seven Sins/Seven Chances" on 30 April 2014 and "17th Munich Capital Market Conference" on 21 May 2014) and at the "Small Cap Forum" on 7 May 2014 in Frankfurt. Furthermore, shareholders will soon be able to address their questions directly to the Executive Board every eight weeks - a hotline is currently being set up for this purpose. "We are committed to sustainable, transparent communications, which really add value for our shareholders and for co.don AG", explained Dr. Baltrusch.
The proceeds of the capital increase are mainly to be used to carry out further clinical trials to obtain central EU-wide approval for the cell-based pharmaceutical product chondrosphere®. This minimally invasive method of articular cartilage regeneration has been applied successfully with some 6,000 patients to date in Germany. Authorisation to market the product in the EU would substantially increase the market potential open to the biopharma company. Experts estimate the entire European market at around €1.2 billion annually. "Demand for our chondrocyte regeneration product is growing rapidly on the German market and preliminary work for the EU marketing authorisation is well advanced", said Dr. Andreas Baltrusch with confidence.
The capital increase will also serve to prepare EU marketing authorisation for the pharmaceutical product co.don chondrotransplant® DISC - a method for treating vertebral cartilage defects with the patient`s own cells. So far, around 600 patients in Germany have been treated with the co.don method following spinal disc herniation. An EU marketing authorisation would also open up this promising market for the company from Teltow.
About co.don® AG: The biopharmaceutical company is one of the leading specialists worldwide in cell cultivation for the regenerative treatment of articular cartilage defects and spinal disc defects. In many cases the use of the company`s patented pharmaceutical product can avert the need for joint and spinal disc replacement surgery. Orthopaedic, accident and neuro-surgeons are increasingly applying these regenerative treatment methods. co.don® AG is listed on the Frankfurt Stock Exchange (ISIN:DE000A1K0227). The company`s Executive Board consists of Dr. Andreas Baltrusch (CEO, CFO) and Ms Vilma Methner (COO, CSO).
Further information about co.don AG can be found at:
BrunoMedia GmbH | Dreikönigshof | Martinsstraße 17 | D-55116 Mainz
Tel +49 6131 930 28 33
Fax +49 6131 930 28 34
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Source: co.don AG via GlobeNewswire