BRUSSELS, June 10 (Reuters) - Biotech group arGEN-X, which develops new drugs to treat cancer and autoimmune diseases, said on Tuesday it was planning an initial public offering to be listed on the Brussels stock exchange.
The group did not disclose how much they intended to raise from the share sale, or when it would take place.
For the planned transaction, the company had hired KBC Securities and Kempen & Co as joint global coordinators and joint bookrunners, Petercam as co-lead manager, and Wedbush PacGrow Life Sciences as selling agent, it said.
arGEN-x has two candidate drugs in clinical trials and others in pre-clinical development and has signed partnerships with major pharmaceutical groups such as Shire, Bayer and Boehringer Ingelheim.
The group, which has its main research facility in Ghent, Belgium, said that if successful, these partnerships could trigger milestone payments of 1.3 billion euros ($1.77 billion). ($1 = 0.7345 Euros) (Reporting by Robert-Jan Bartunek; Editing by Miral Fahmy)