Molecure completes successful Secondary Public Offering of approximately USD 12 million with proceeds to be used to fund and build a first in class, sustainable pipeline of breakthrough therapies

On July 18, 2023 Molecure S.A. ("Molecure", WSE ticker: MOC), a biotechnology company discovering and developing drugs to the clinical stage, which leverages its globally unique expertise in medicinal chemistry and biology to explore and develop first-in-class small-molecule drugs that directly modulate protein activity and mRNA function to treat a wide range of incurable diseases, reported that it has successfully closed the SPO and entered into subscription agreements for all 2,776,000 H shares offered by way of private placement, within the authorized capital (Press release, Molecure, JUL 18, 2023, View Source [SID1234640061]). The issue price was set at PLN 18, bringing the gross value of the offering to approximately USD 12 milion (PLN 50 million).

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"We have successfully closed the H-share offering, which garnered significant interest from investors, including those who previously were not part of our shareholder base. We would like to thank all investors for participating in the offering and for the trust they have placed in Molecure. During the discussions with investors throughout the offering, we encountered a very good reception to our Strategy and a positive evaluation of the Company’s growth potential, which translated into investors’ interest several times higher than the number of shares offered. Considering the current market conditions, we view the execution of the share issue as a remarkable achievement. The proceeds from the offering will be utilized to finance the advancement of Molecure’s research programmes, aimed at developing effective therapies to address numerous incurable diseases afflicting patients" – says Marcin Szumowski, CEO and shareholder of Molecure S.A.

The proceeds raised through the offering will co-finance the implementation of the Company’s strategic plans for 2023-2025, including, in particular, significant progress in the clinical development of two flagship programmes, namely OATD-01 (a first-in-class chitotriosidase 1 inhibitor, CHIT1) and OATD-02 (a first-in-class dual arginase inhibitor). Additionally, efforts will be intensified in a portfolio of early-stage programmes, including breakthrough small-molecule drug technology that modulates mRNA translation and therapeutics targeting previously unexplored protein targets. These initiatives are bolstered by advanced machine learning and generative artificial intelligence (GenAI) methods. Molecure estimates that the capital expenditure associated with the strategy from mid-2023 to the end of 2025 will amount to approximately PLN 250 million.

Molecure is the exclusive owner – as the only biotech company in Poland – two first-in-class compounds at the clinical trial stage and is consistently building the value of these programmes, aiming to secure at least one high-value partnership agreement between 2023 and 2025, which could translate into tangible benefits for Shareholders.

"The primary business objective of our strategy is to transform the intellectual value we have created into commercial success. We anticipate concluding a partnering agreement for at least one of our clinical assets before 2025, while also establishing commercial collaborations for programmes currently at an earlier stage of development. We are pleased that investors participating in the share offering have recognised our progress thus far and our Strategy for future growth. The funds raised from the share issue, combined with other sources of funding, will provide vital support for the successful and on-track progress of our programme development and further strengthen our negotiating position with partners" – adds Marcin Szumowski.

LEGAL DISCLAIMER

This material is for information purposes only. It is published by the Company solely for the purpose of providing relevant information regarding the terms and conditions of the offer of H Shares. This material is in no way intended to promote, directly or indirectly, the offer, subscription or purchase of H Shares, nor does it constitute any advertisement or promotional material prepared or published by the Company for the purpose of promoting the H Shares, their subscription, purchase or offer or for the purpose of encouraging investors, directly or indirectly, to purchase or subscribe for H Shares. The Company has not published to date and does not intend to publish after the date of this current report any material for the purpose of promoting the Series H Shares, their subscription or purchase.

This material does not identify or suggest, and is not intended to identify or suggest, any risks [direct or indirect] that may be associated with an investment in the H Shares. Any investment decision to subscribe for or purchase H Shares pursuant to an offer, subscription or sale of such shares must be made solely on the basis of publicly available information.

This material does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any securities in any jurisdiction. This material does not constitute a recommendation regarding an investor’s decision to offer, subscribe for or purchase H Shares. Each investor or potential investor should conduct its own investigation, analysis and evaluation of the business and data described in this material and publicly available information. The price and value of securities can go up as well as down. Past performance is not a guide to future performance.