DBV Technologies entered on the NASDAQ last Wednesday raising up to 90 million euros. It bets on treating peanut allergy, which is a major health issue in the United States, and targets up to one billion dollars revenues.
The small French biotechnology company which has developed a new system of allergy desensitization based on skin patches launched a global offering of 2,673,641 new shares for its IPO in the USA. It included an offer of a share of common stock in the form of American Depositary Shares (ADSs) on the NASDAQ Global Market and also an offer of ordinary shares in France and other countries (excluding North America) in the form of a private placement. The operation allowed them to raise about 90 million euros in total!
“This fundraiser will allow us to improve the structures in France, particularly in research and development, and finance additional clinical trials”, said Pierre-Henri Benhamou Reuters, the CEO of DBV Technologies whose goal is also to develop commercial structure in the United States.