BRUSSELS, March 10 (Reuters) - Belgian biotech company Tigenix said it raised 23.75 million euros ($25.95 million) in a private placement of shares to raise funds for bringing its bowel disease treatment Cx601 to the market.
The group, which late on Wednesday postponed plans for a listing in the United States, said it sold 25 million shares at an average price of 0.95 euros, some 15 percent below Wednesday’s closing price of 1.113 euros.
Shares of Tigenix fell as much as 13 percent on Monday, following the announcement.
KBC Securities acted as sole bookrunner while Canaccord Genuity and Nomura Securities acted as U.S. Selling Agents. ($1 = 0.9151 euros) (Reporting by Wout Vergauwen, editing by Robert-Jan Bartunek)
Our Standards: The Thomson Reuters Trust Principles.