EQS Group-News: Code Pharma BV / Key word(s): Investment
29.11.2021 / 13:53
PRESS RELEASE
COVID-19 drug developer Code Pharma announces limited fundraising round for international professional investors and plans for IPO
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– Code Pharma is a Dutch pharmaceutical company, developing an antiviral drug against COVID-19, and other RNA viruses. Following the successful completion of a phase I study, the company is now initiating a phase II double-blind controlled study in several countries.
– Scientific data regarding Codivir’s mechanism of action suggest that Codivir is effective against mutations of the Covid virus, including the recently discovered Omicron variant.
– The company has already received emergency approvals from several countries and is preparing for mass production of Codivir in different production sites worldwide based on the received orders.
– Today, Code Pharma announced its intention to launch an Initial Public Offering (IPO) and to list its shares on the NASDAQ and Switzerland’s SIX Swiss Exchange.
– Prior to that, a limited fundraising round of USD 25 million for international professional investors has been launched, offering an opportunity to acquire shares of the company at a 20% discount, starting on 25 November 2021.
Tel Aviv (Israel) / De Bilt (Netherlands), 29 November 2021 – Code Pharma is a global pharmaceutical company specializing in the development, manufacturing, and marketing of cost-effective treatments for infectious and oncological diseases including for COVID-19 by using novel peptides.
The company today announced its intention to launch an Initial Public Offering (IPO) and list its shares on the NASDAQ and Switzerland’s SIX Swiss Exchange. More information regarding the IPO and the listing will be provided in due course.
Prior to that, a limited fundraising round for international professional investors has been launched, offering an opportunity to acquire shares of the company at a 20% discount, with a minimum of USD 100,000. The implied valuation of Code Pharma is USD 250 million[1].
To this end, Code Pharma has mandated the Swiss independent strategic advisory company Bonart Financial Performance Ltd. as the strategy consultant for the fundraising. A detailed corporate report, valuation material, and general presentations are available at request from Bonart. To receive this additional information, please contact boaz.barack@bonart.financial.
Zyon Ayni, CEO and founder of Code Pharma: “Today is a very exciting day for the Code Pharma team. We are well positioned to play a key role in the current race to develop a cure for COVID-19. Our drug Codivir – which was originally discovered at the Hebrew University in Israel – has a very good safety profile and very impressive antiviral activity, both under laboratory conditions and in our phase I clinical trials. Also, Scientific data regarding Codivir’s mechanism of action strongly suggest that Codivir is effective against mutations of the Covid virus, including the recently discovered Omicron variant. Even before the results of the phase II study, we have received emergency approvals and orders for production. Therefore, we are not only facing exceptionally strong commercial potential, but potentially a breakthrough in the field of antiviral therapy, not only for COVID-19 patients, but also for diseases such as influenza and other RNA viruses.”
Dr. Boaz Barack, Chairman of Bonart: “We believe that Code Pharma, with its ground-breaking research and patent-protected findings, provides for an interesting opportunity to professional investors”.
Use of proceeds
Code Pharma is operating in a market with significant growth potential. Rising incidences of viral infections, and an increasing geriatric population are projected to propel the demand for anti-viral drugs. According to a report published by business intelligence agency Visiongain[2], the global antiviral drugs treatment market was valued at USD 52 bn in 2020 and is projected to reach a market value of nearly USD 75 billion by 2031.
With its novel peptides and its team of outstanding professionals with multidisciplinary expertise in peptides, cell culture, clinical development and chemical manufacturing, Code Pharma is well positioned to benefit from this development. Valued at USD 250 million (25.4x LTM R&D) in a preliminary analysis based on the management’s projections by the British advisory firm Flow Partners[3] and with management’s expectation to reach revenue of almost $20 billion once Codivir is in production. The fundraising prior to the IPO has started on
25 November 2021.
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About Codivir
Codivir is a short synthetic 16 amino-acid peptide, derived from the HIV-1 integrase, originally discovered at the Hebrew University in Israel. Code Pharma’s team discovered that the peptide had a direct antiviral effect against SARS-CoV-2, the coronavirus causing COVID-19. In-vitro studies conducted at the British research laboratory Virology Research Services then demonstrated a potent antiviral activity against SARS-CoV-2 and other RNA viruses.
A subsequent phase I clinical trial of Codivir in patients with COVID-19, approved by Brazil’s National Research Ethics Commission (CONEP) and conducted at Vera Cruz Hospital in São Paulo, Brazil, demonstrated a high safety profile while significantly suppressing viral replication in most of the fully assessed patients with an antiviral effect noted as early as three days. All patients recovered quickly after the treatment with Codivir and didn’t show any signs of side effects very often associated with COVID-19 infections. A manuscript describing the results has been submitted to a peer-reviewed journal.
Following the successful phase I study, the company is now initiating a phase II double-blind controlled study with a larger cohort. Code Pharma has already received emergency approvals from several countries and is preparing for mass production of Codivir in different production sites worldwide based on the received orders.
About Code Pharma
Code Pharma BV is a global pharmaceutical company, headquartered in the Netherlands, with R&D activities centered in Israel. The company aims to develop cost-effective treatments for infectious and oncological diseases by using novel peptides and bring together outstanding professionals with multidisciplinary expertise in peptides, cell cultures, clinical development, and chemistry manufacturing.
Further information can be found at: https://www.codepharma.com/
About BONART
Bonart Financial Performance Ltd., an independent Swiss strategic advisory company owned and managed by Dr. Boaz Barack. Barack has over 30 years of experience working in global banking and investment firms. The company started in 2010 as a successful family and private introductions facilitator providing a bespoke service to its ultra-high-net-worth partners and their families. Bonart facilitates privileged access to exclusive business opportunities by utilizing its trusted network, specializing in careful introductions to its network. Today, Bonart covers a broad range of service offerings throughout the lifespan of its clients’ interests.
Further information can be found at: https://www.bonart.financial
If you have any questions regarding Code Pharma and the investment opportunity, please contact us at:
Code Pharma
Investor Relations
E: info@codepharma.com
Media contact
Marcus Balogh/Sunjoy Mathieu
Farner Consulting Ltd.
E: codepharma@farner.ch
T: +41 44 266 67 67
BONART Financial Performance Ltd.
Felsenmattstrasse 6
CH-8832 Wollerau
Switzerland
E: boaz.barack@bonart.financial (Subject «Code Pharma»)
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[1] Based on a preliminary analysis supporting an enterprise value of USD 250 million (25.4x LTM R&D) according to management projections.
[2] https://www.visiongain.com/report/antiviral-drugs-treatment-market-2021/#download_sampe_div .
[3] https://www.flowpartners.io/news/flow-partners-advises-code-pharma
End of Media Release
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