Amsterdam, The Netherlands – 19 May 2017 – It is with great pleasure that LSP – the specialist European healthcare investment firm – announces that its portfolio company argenx (Euronext Brussels: ARGX) was successfully listed on the NASDAQ stock exchange, raising approximately $100 million after the pricing of 5.9 million shares at $17.00 per share. In its first day of US trading, argenx gained $6.00 (35%) to $23.00. The shares are trading on the NASDAQ Global Select Market under the ticker symbol “ARGX”.
LSP financed and actively supported argenx since 2009, when LSP co-led the company’s Series A financing round. Since then, the company has transformed from a unique technology platform company into a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer. Its lead candidate, ARGX-113, is in two Phase II trials, one to treat myasthenia gravis and one to treat primary immune thrombocytopenia. The company also develops ARGX-110, which is in a Phase II study to treat cutaneous T cell lymphoma and in a Phase I/II study to treat acute myeloid leukemia.
The argenx investment further validates LSP’s long-term approach of identifying breakthrough technologies, building companies around them and playing an active role all along. John de Koning represented LSP on the company’s Board since 2009 working closely with management and other Board members to develop argenx and steer the company towards the NASDAQ listing. At the company’s recent Annual General Meeting, John resigned from the Board, completing the gradual transition of the Board composition over the past years. On the current Board, all non-executive directors qualify as independent directors.
LSP is an independent European investment firm, providing financing for private and public life sciences companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. Since the late 1980s, LSP’s management has invested in about 100 innovative enterprises, many of which have grown to become leaders of the global life sciences industry. With over €1 billion of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe’s leading life sciences investors. For more information, please visit www.lspvc.com.
Dr John de Koning
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