The FINANCIAL — EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for SMEs on April 21 congratulated Sensorion, a biotech company specialising in the treatment of pathologies of the inner ear, on its successful listing on Alternext in Paris.
Sensorion was spun off from Inserm, the French institute of health and medical research, in 2009 and is based in Montpellier in southern France. It focuses on all types of severe inner ear pathologies, affecting balance and hearing, and is developing three drug candidate programs for medical needs that remain untreated to date. The company has devised a full technology platform that allows it to identify and test the most promising drug candidates for all severe inner ear disorders, both symptomatic and anti-lesional. It plans to become a leading player in treating these pathologies.
Sensorion (ticker symbol: ALSEN) was listed through the admission to trading of 5,078,990 ordinary shares, including 1,816,100 new shares issued under a Global Offering, according to Euronext.
The admission price and issue price of Sensorion was set at €4.54 per share. Market capitalisation on the day of listing was €23 million, and the operation raised a total of €8.2 million
Sensorion CEO Laurent Nguyen said: “We are delighted to list on Alternext in Paris. And we want to thank all of our shareholders—old and new—for helping us achieve this milestone and for accompanying us on the road to future growth. Thanks to their support and the hard work of our teams, we have every intention of rapidly becoming a major player in the treatment of inner ear pathologies.”
Eric Forest, Chairman and CEO of EnterNext, said “We are very pleased to welcome Sensorion, an innovative company from the Languedoc-Roussilon region, to Alternext. Listing should enable it to step up the pace of its product development. Today EnterNext is working with nearly 70 companies in the life sciences, representing total market capitalisation of over €11 billion. We believe that our initiatives in support of technology companies will strengthen our positioning in tech shares in Europe.”
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