On January 14, 2020 NOXXON Pharma N.V. (Paris:ALNOX) (Euronext Growth Paris: ALNOX), a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment (TME), reported that following discussions with investors it has received commitments for an investment of €0.5 million through a private placement (Press release, NOXXON, JAN 14, 2020, View Source [SID1234553182]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are pleased with the ongoing support of the investment community, in particular the long-term investors from Europe and the US who continue to support NOXXON’s strategy and also invested in the capital increases last year. This investment provides additional capital for the company and allows us to advance the Phase 1/2 trial of NOX-A12 in combination with radiotherapy as a 1st line treatment in brain cancer patients, which is one of the key clinical goals for NOXXON. As with the previous private placement, for which we have attracted long-term equity investors, there are no warrants or other option-like instruments attached to this financing," said Aram Mangasarian, CEO of NOXXON.

The price agreed with investors of €0.51 per share represents a 26% discount on the average closing price of the shares over the seven trading days from December 31, 2019, to January 9, 2020. As such, it is anticipated that 980,389 new shares will be issued in the context of this financing. Closing and settlement of this transaction is expected within the next seven days.