Crossject announces highly successful closing of its €8 million rights offering
Gross fundraising of approximately €8 million or 100% of the planned rights offering as proposed and announced on 30 April 2024
Allows to continue the clinical and regulatory development of ZEPIZURE® until the next value creation milestones, in particular the EUA approval by the FDA
Dijon, France 4 April, 2024 — Crossject (ISIN: FR0011716265; Euronext: ALCJ), a specialty pharma company developing needle-free auto-injectors for emergency situations, announces the successful closing of its rights offering with maintenance of preferential subscription rights for a gross amount of approximately €8 million as announced on 30 April 2024. The net proceeds from this round are approximately €7.6 million. This round of financing is an important step to continue to support Crossject’s activities in bringing its ZEPIZURE® emergency epilepsy treatment to market and in building its U.S. operations in anticipation of its direct commercialization. The capital increase was at a subscription price of € 1.848, representing a discount of 10% to the closing price on 30 April 2024.
“We are very pleased to have successfully closed our capital increase and are grateful for the support from all our investors, especially Gemmes Venture for their unwavering backing of Crossject since its inception. All the demand fulfilled on an irreducible or reducible basis was enough to meet our objectives. We genuinely thank the unserved investors and hope that they will find further market opportunities to support our growth plan as shareholders. The funds will support the development of ZEPIZURE®, our ZENEO® Midazolam auto-injector for epileptic crises, as we continue preparations for the marketing authorization applications in the United States and for its commercialization. We continue to look forward to an expected response from the Food and Drug Administration, regarding an Emergency Use Authorization, during Q1 2025 and to filing a full New Drug Application in H1 2025,” said Patrick Alexandre, CEO of Crossject.