Molecular Partners raises CHF80 million via private placement


Molecular Partners successfully completes the launch of a Private Placement of 5,528,089 Shares by way of an Accelerated Bookbuilding. Proceeds from the Offering will help accelerate development of the SARS-CoV-2 antiviral candidate, MP0420, as well as early stage clinical and preclinical pipeline assets


Ten days after the announcement of a major setback regarding the marketing approval of its most advanced molecule, Molecular Partners AG announces the successful completion of a private placement. The company has successfully placed 5,528,089 registered shares, corresponding to approximately 25% of the company's currently registered share capital, by way of an accelerated bookbuilding process, at an offering price of CHF 14.50 per share. The New Shares will be issued from existing authorized share capital of the company under exclusion of the existing shareholders' pre-emptive rights.

The gross proceeds of the Offering, before deducting commissions and offering expenses, amount to approximately CHF 80.2 million (~USD 85.1 milllion). The offering included participation by new and existing institutional investors in Switzerland, the United States and the European Union, including Suvretta Capital Management, LLC, Camber Capital Management LP, BVF Partners L.P., Federated Hermes Kaufmann Funds and Monashee Investment Management LLC.

The New Shares are expected to be listed and admitted to trading on SIX Swiss Exchange as of July 9, 2020. Payment and settlement is expected to take place on the same date. Molecular Partners AG intends to use the net proceeds from the Offering to fund R&D activities, in particular to accelerate its early stage pipeline, as well as for general corporate purposes.

(Press release / SK)