Pentracor GmbH: Bond 2020/2025 successfully placed
- Target issue volume of EUR 15 million almost fully issued
- Listing on the Open Market of the Frankfurt Stock Exchange has taken place
- Proceeds from the issue are used for the large-scale roll-out of a certified medical device innovation
- FDA filing for the treatment of COVID-19 patients in the USA
Hennigsdorf, 8. Juni 2020 - The medical technology company Pentracor GmbH, operating in the dynamically growing healthcare sector, has almost completed the placement of its corporate bond with a possible conversion right (ISIN: DE000A289XB9, WKN: A289XB) via private placement with an issue volume of EUR 15 million. Final discussions with potential investors are still ongoing. The private placement is aimed at qualified investors with a minimum subscription of EUR 100,000. The interest rate is 8.50% p.a. and the bond has a maturity of 5 years. The bond has been listed on the Open Market of the Frankfurt Stock Exchange since May 29, 2020 and is tradable with a denomination of EUR 100,000. Pentracor CFO Sven Haevernick: "Against the backdrop of the challenging capital market environment in Corona times, the trust that investors place in us has a very special significance for our company. The placement of the bond speaks for our business model as a whole and in particular for our certified medical product innovation with unique selling proposition, the large-scale roll-out of which we will now immediately tackle with the proceeds of the issue, or have already started."
In parallel to the issuance of the bond, Pentracor had already initiated the application for approval of its medical product PentraSorb® CRP for the treatment of COVID-19 patients in the United States with the U.S. Food and Drug Administration (FDA). To this end, a framework agreement was recently signed in the U.S. with a partner who has extensive knowledge of the specific regulatory market requirements.
Pentracor CEO Ahmed Sheriff: "We are thus on track more quickly than planned and expect that, on the one hand, we will be able to obtain accelerated approval from the agency because of the current Corona situation and, on the other hand, we will have significantly fewer hurdles to overcome in the approvals for the core applications of our medical product." In the Corona case, PentraSorb® CRP can be used therapeutically and, in particular, can stop the destruction of the lungs and thus save human lives, as has already been proven in cases in Germany.
The Pentracor GmbH with its medical product PentraSorb® CRP offers 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 reimbursed by all health insurance companies in Germany. The medical product is not subject to any restrictions on use for specific clinical pictures, as is indispensable in the case of drugs for each individual field of application, and can also be used, for example, for stroke patients and rheumatic diseases or COVID-19. For Germany, a market volume of EUR 350 to 400 million has been identified for the application areas of myocardial infarction and stroke. There is currently no competing medical product and there is no drug that achieves a therapeutic effect in patients like PentraSorb® CRP. Worldwide, experts estimate a market volume of around EUR 11 billion, although this does not yet include the treatment of COVID-19 patients.
The healthcare sector is characterized by a high degree of dynamism, and Pentracor is on the verge of a sustained expansion of its business with a product already on the market. Against this background, the bond, which is now almost fully placed, has a conversion option as an additional incentive for investors. Should an IPO or exit prove opportune during the bond term, bondholders would benefit again in addition to the attractive bond terms.
The bond issue of Pentracor GmbH was structured by One Square Advisors GmbH (One Square Financial Engineers) and is supported by Heuking Kühn Lüer Wojtek PartG mbB as legal advisor and IR.on AG as communications advisor. The underwriting service is 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, a completely new therapeutic, extracorporeal treatment method is offered with a unique selling proposition to sustainably contain progressive internal tissue damage in patients after acute events such as myocardial infarction or stroke. By filtering the blood plasma outside the body, the so-called C-Reactive Protein (CRP), which causes tissue damage, is selectively removed. Pentracor has extensive and patent-protected know-how regarding the use and production of the adsorber PentraSorb® CRP. Apheresis with Pentracor's medical device PentraSorb® CRP is the only therapy available worldwide that can selectively lower CRP levels in the body, resulting in better treatment outcomes for 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 buy nor a solicitation to sell securities.
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