Medical technology company Pentracor GmbH issues corporate bond
- Private placement with subsequent trading on the Open Market
- Bond with possible conversion right, issue volume of up to EUR 15 m
- Coupon of 8.50 % p.a., term 5 years
- Proceeds from the issue are used for the large-scale roll-out of a certified medical device innovation
Hennigsdorf, 20.05.2020 - The medical technology company Pentracor GmbH, based in Hennigsdorf near Berlin and operating in the dynamically growing healthcare sector, is issuing a bond with possible conversion rights in a private placement (ISIN: DE000A289XB9, WKN: A289XB). The issue volume is up to EUR 15 million, the interest rate is fixed at 8.50% p.a., the term of the bond is 5 years. The provision of the bond with a possible conversion right takes into account an optional initial public offering (IPO) or a sale (exit) of the company within the five-year bond term. Should neither IPO nor exit take place, the bond redemption price is 120 %. The subscription period for the private placement with a minimum subscription of EUR 100,000 starts today, 20 May 2020. The bond is planned to be tradable and thus listed in the Open Market of the Frankfurt Stock Exchange in a denomination of EUR 1,000 from 29 May 2020.
Product PentraSorb® is the only therapy available worldwide for CRP blood washing
The Pentracor GmbH offers with its medical product PentraSorb® CRP is a new therapeutic, extracorporeal treatment method. It is used to permanently contain progressive internal tissue damage in patients after acute events such as heart attacks. Research in this area began in 2003 at universities. The company was founded in 2010. PentraSorb® CRP is CE-certified, patent-protected and is reimbursed by all health insurance companies in Germany. Pentracor CEO Ahmed Sheriff: "After ten years of company history, we have a finished product that is already being sold and are now facing a large-scale product roll-out. The proceeds from the bond issue will be used primarily for this purpose. PentraSorb® CRP has sustainable benefits for all parties involved: for patients whose lives are saved or where partial organ insufficiencies are contained, for the doctors treating them, for hospitals or outpatient clinics and for the health care system, since chronic organ insufficiencies, which require continuous follow-up treatment at great expense, can be prevented".
Wide range of applications in the growing and increasingly important healthcare market
PentraSorb® CRP is not subject to any restrictions on use for specific clinical pictures, as is the case with drugs for each individual area of application, and can also be used, for example, in stroke patients and rheumatic diseases. In the EU, the blood laundry filter, which is used outside the body in combination with conventional dialysis-like systems and which filters the harmful so-called C-reactive protein (CRP) from the blood plasma in the indicated cases, is protected by patent. Further accompanying patents in the relevant geographic areas in America and Asia were approved. Since November 2014 PentraSorb® CRP fully approved as a CE-certified medical device. It has been reimbursed by all health insurance companies in Germany since 2018 and has been in use since then.
Sven Haevernick, CFO of the company: "For Germany alone, the application areas
We have identified a market volume of EUR 350 to 400 million for heart attacks and strokes, which we can tap. There is currently no competing medical product, the barriers to market entry would be enormously high, and there is no drug that achieves a therapeutic effect in patients like our PentraSorb® CRP. Worldwide we are talking about a market volume of around €11 billion at present. As the healthcare market continues to grow, the potential applications for our apheresis filter will multiply in parallel".
The bond issue of Pentracor GmbH is structured by One Square Advisors GmbH (One Square Financial Engineers) and is accompanied by Heuking Kühn Lüer Wojtek PartG mbB as legal advisor and IR.on AG as communication consultant. The subscription service will be provided by BankM AG.
About the Pentracor GmbH
Pentracor GmbH, a spin-off from the university environment, was founded in 2010. With the solution PentraSorb® CRP is a completely new therapeutic, extracorporeal treatment method with a unique selling point for sustainably containing progressive internal tissue damage in patients after acute events such as heart attack or stroke. By filtering the blood plasma outside the body, the so-called C-reactive protein (CRP), which causes the tissue damage, is selectively removed. Pentracor has extensive know-how, protected by patents, regarding the use and production of the adsorber PentraSorb® CRP. Apheresis with Pentracor's medical device PentraSorb® CRP is the world's only available therapy that can selectively lower the level of CRP in the body and thus achieve better treatment results in acute events such as heart attacks. PentraSorb® CRP has been fully approved as a CE-certified medical device since 2014 and has been reimbursed by all health insurance companies in Germany by means of an additional charge since November 2018.
This publication constitutes neither an offer to sell nor an invitation to buy securities.
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Online roadshow for qualified investors on Monday, 25 May 2020, starting at 10:00 a.m.
Registration under https://webcasts.eqs.com/pentracor20200525/de
