Cessatech A/S approved for listing at Spotlight Stock Market
Cessatech is a Danish clinical Phase II company developing evidence-based treatment for children. Its lead asset (CT001) is an analgesic nasal spray for treatment of acute and planned painful procedures in children. Cessatech recently reached an essential target with the approval by the EMA to launch its Paediatric Investigation Plan (PIP), which grants the Company an approved path for a Paediatric-use Marketing Authorization (PUMA) and thereby the opportunity to launch CT001 in Europe in just a few years.
Cessatech is committed to developing and commercialising evidence-based and innovative medicines for children for the treatment of paediatric acute pain. The Company started off as a spinoff project from Rigshospitalet, a project led by experts within paediatric anaesthesia and pain treatment, who recognized a need for fast-acting and easy to use needle-free pain treatment for children.
Cessatech´s lead asset (CT001) is an analgesic nasal spray for treatment of acute and planned painful procedures in children. CT001 is based on a fixed combination of two well-known compounds, ketamine and sufentanil. The potential advantages of the fixed combination of sufentanil and ketamine include improved analgesia with approx. 30 percent lower dose of sufentanil and consequently the avoidance of undesirable side effects such as prolonged sedation and risk of respiratory depression. CT001 is now expected to enter late stage clinical development in 2021.
Many of the people involved in CT001/Cessatech over the years, have had a strong passion for making the product available on the market, and making a difference for children. Time has come to finalize the development program approved by the EMA, and we are all truly excited about the journey ahead of us
- CEO Jes Trygved, Cessatech A/S
Cessatech is now ready to advance the implementation of its approved PIP program, but also expand business development activities, develop a regulatory strategy for the U.S. and further develop its business model. The Company is therefore conducting an issue of units (shares and free of charge warrants) amounting to approx. DKK 41 million (before issue costs), prior to planned listing on Spotlight Stock Market.
Offer
The offer comprises no more than 1,680,000 shares and no more than 2,520,000 warrants of series TO 1, corresponding to approx. DKK 15.8 million and approx. DKK 25.2 million respectively. If the issue of units is fully subscribed and all associated warrants are exercised, Cessatech will receive a capital injection totaling approx. DKK 41 million (before issue costs). The minimum subscription is 200 units, corresponding to DKK 3,760. The subscription period starts on the 10. of November 2020, and ends on the 24. of November 2020. The valuation (pre-money) calculates to approximately DKK 18.8 million.
Subscription period: 10 November - 24 November 2020.
Expected first day of trading on Spotlight Stock Market: 16 December 2020.
Subscription price: DKK 18.80 per unit. One (1) unit consists of two (2) shares and three (3) warrants of series TO 1, free of payment.
Valuation (pre-money): Approx. DKK 18.8 million.
Subscription commitments: The Company has received subscription commitments of approximately DKK 9.8 million, corresponding to approximately 62 percent of the initial issue of units.
Listing at Spotlight Stock Market
Cessatech A/S has been approved for listing at Spotlight Stock Market. The first day of trading is planned to the 16 of December 2020. The approval is given under the condition that the company raises the lowest level of approximately DKK 14.2 million and that the company obtains a sufficient number of shareholders in accordance with Spotlight Stock Market’s listing agreement in the upcoming IPO.
Information about the share
Short name: CESSA
ISIN: DK0061411964
First day of trading: December 16, 2020
Information about the warrants
Short name: CESSA TO 1
ISIN: DK0061416849
Subscription period for warrants: 25 November - 16 December, 2021
The companys prospectus will be published at www.spotlightstockmarket.com after finansitilsynets approval.
For more information, please contact:
Oskar Wollert
Head of Listing, Spotlight Stock Market
+46 8 511 68 008
listing@spotlightstockmarket.com