Liestal, Switzerland, August 7, 2015 – Santhera Pharmaceuticals (SIX: SANN) announces that it has completed the sale of 300,000 registered shares of common stock yielding an aggregate income of CHF 27.7 million (USD 28.3 million). The proceeds will be used to finance the commercial launch of Raxone® in Leber’s Hereditary Optic Neuropathy (LHON) in Europe.
The newly created shares with a par value of CHF 1.00 were issued from the Company’s conditional capital and were sold by the independent broker Kepler Chevreux within four days (August 3 to 6) at an average price of CHF 92.38 per share. As of today, Santhera has 5.51 million shares outstanding.
Swiss company Santhera Pharmeceuticals is to sell up to 300,000 newly created shares to fund marketing of Raxone® in Europe.
This is the trade name of Idebenone, which Santhera has been developing for the treatment of mitochondrial disorders.
It is aiming to use Raxone® for the treatment of Duchene Muscular Dystrophy and LeberHereditary Optic Neuropathy.
Over the last few years Santhera has worked with researchers such as the Wellcome Centre for Mitochondrial Research at the University of Newcastle in the UK. Trials of Idebenone on patients recently affected by LHON have shown that it does seem to be beneficial for some patients. Unfortunately researchers cannot predict who is most likely to benefit before the treatment begins.