Eubelius assists Hyloris with its successful IPO on Euronext Brussels and capital increase of EUR 62 million.

On 17 June 2020, Hyloris Pharmaceuticals launched its initial public offering on Euronext Brussels. The subscription period was closed on 26 June, and the transaction was closed on 30 June. The proceeds of the IPO amount to approximately EUR 62 million. Hyloris Pharmaceuticals will use this to support its strategy, specifically (i) to finance its existing portfolio of product candidates, (ii) to set up a team in the United States to commercialise its IV Cardiovascular portfolio, (iii) to finance the expansion of its pipeline of product candidates, and (iv) for general corporate purposes.

Hyloris Pharmaceuticals is an early-stage innovative specialty pharmaceutical company based in Liège, focused on adding value to the healthcare system by reformulating well-known pharmaceuticals. Hyloris develops proprietary products which it believes offer significant advantages compared to currently available alternatives, with the aim of addressing the unmet medical needs of patients, hospitals, physicians, payors and other stakeholders in the healthcare system. Hyloris' portfolio focuses on three areas: (i) IV cardiovascular, (ii) other reformulations, and (iii) established market (high barrier generics).

The IPO in figures:

  • IPO price of EUR 10.75 per share;
  • 5,750,000 new shares were issued with a total value of approximately EUR 62 million, with strong support from high-quality specialist long-term investors and Belgian retail investors, as well as interest from a mix of institutional investors across continental Europe, the United Kingdom and the United States;
  • 18.4% of the offered shares were placed with Belgian retail investors.

Eubelius advised Hyloris Pharmaceuticals on its successful IPO. This is the first IPO on Euronext Brussels in 12 months, and for the time being the last in the row of equity capital market transactions assisted by Eubelius in 2020, following the accelerated bookbuilding of new shares in Aedifica in April 2020, the block trade of existing shares in a Belgian REIT also in April 2020, and the accelerated bookbuilding of new shares in Care Property Invest in June 2020.

The team members involved in this operation are Lars Van Bever, Erwin Destuyver, Joris De Wolf, Anthony Van Besien, Anouk Kerkhofs, Michiel Stuyts and Luana Huybrechts.